US consumer credit grew more than expected in March, with credit card loan balances rising by the most in a year. Total consumer credit rose by $26.5 billion in March, the largest increase in four months, compared with a $15 billion increase in February, according to data released Friday by the Federal Reserve. The data was not adjusted for inflation and the median forecast by economists surveyed was for an increase of $17 billion.
US Consumer Credit Grows more than Expected, Credit Card Loan Balances Surge
US consumer credit grew more than expected in March, with credit card loan balances rising by the most in a year.
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