Indicators
US Consumer Borrowing Unexpectedly Declines in Broad Pullback
The figures indicate American households were starting to grow more cautious in February about their debt loads.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
US consumer borrowing unexpectedly declined in February for the first time in three months, reflecting a sharp pullback in credit-card balances and a decrease in motor vehicle and other non-revolving loans.
Total credit fell nearly $810 million after a revised $8.9 billion gain in January, according to Federal Reserve data out Monday. The median projection in a Bloomberg survey of economists called for a $15 billion rise.