(Photo = Macy's)

[Alpha Biz= Reporter Paul Lee] According to MarketWatch on the 7th (local time), the Federal Reserve, the Fed, reported that consumer credit in the United States increased by 1.5% annually in March, slowing from 3.6% the previous month.

This marks a significant slowdown from the $15 billion increase in the previous month to $6.3 billion in March. Analysts on Wall Street had expected an increase of $14.8 billion.

Credit card borrowing saw a slight increase of 0.1%, compared to the previous month's 9.7% increase, marking the slowest pace since April 2021.

Specifically, non-revolving loans, which include relatively stable categories such as student loans and auto loans, increased by 2% in March after a 1.4% increase in February.

 

 

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