U.S. Consumer Credit Climbs Less Than Expected In February

(RTTNews) - A report released by the Federal Reserve on Friday showed consumer credit in the U.S. increased by less than expected in the month of February.

The Fed said consumer credit rose by $14.1 billion in February after climbing by a downwardly revised $17.7 billion in January.

Economists had expected consumer credit to advance by $17.3 billion compared to the $19.5 billion jump originally reported for the previous month.

The report said revolving credit, which includes credit cards, climbed by $11.3 billion, while non-revolving credit, such as auto loans and student loans, crept up by $2.9 billion.