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WASHINGTON, March 7 (Reuters) – U.S. consumer credit grew in
January but was held back by a contraction in credit card usage
that could be a negative sign for the economy.
Total consumer credit rose by $13.7 billion to $3.1
trillion, the Federal Reserve said on Friday.
Economists polled by Reuters had expected consumer credit to
rise by $14 billion in January.
Revolving credit, which mostly measures credit-card use,
fell by $226 million during the month. Revolving credit figures
can be volatile.
Non-revolving credit, which includes auto loans as well as
student loans made by the government, increased $13.9 billion in
January.
(Reporting by Jason Lange; Editing by Andrea Ricci)
