Consumer Credit Moves Higher, On The Low Side Of Expectations

Consumer credit came in on the low side of expectations, up $11.6 billion in March with February revised $3.0 billion higher to $13.6 billion. Revolving credit is once again the weak spot, down $2.6 billion in the month following a $0.5 billion decline in February. Weakness in revolving credit, which includes credit cards, explains at least part of the slowdown in first-quarter consumer spending. Non-revolving credit, which includes both student loans and vehicle loans, rose $14.2 billion in both March and February.