Consumer Credit Gains Show Slowing In March

The U.S. Federal Reserve reports that consumer credit increased at a seasonally adjusted annual rate of +3.4% in March. Revolving credit was at a SAAR of -2.4% during the month, while nonrevolving credit increased at a SAAR of +5.9%.

Total revolving credit outstanding was a seasonally adjusted $846.2 billion in March, down from February’s revised reading of $847.9. This is the first decline in revolving credit in 2013.

Total nonrevolving credit  was a seasonally adjusted $1,961.3 billion, up from February’s revised reading of $1,951.6 billion. These auto and student loans continue to push consumer credit higher, although this is at a slower pace than previous months and is the smallest gain in nonrevolving credit since July 2012.

Total outstanding consumer credit was a seasonally adjusted $2,807.5 billion, up from February’s revised reading of $2,799.5 billion.

US Consumer Credit March 2013 650x433 Consumer Credit Gains Show Slowing In March

Change in US Consumer Credit March 2013 650x433 Consumer Credit Gains Show Slowing In March

US Consumer Credit Table March 2013 650x247 Consumer Credit Gains Show Slowing In March

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