February Consumer Credit Sees $14.12 Billion Increase, Slightly Below Expectations

Friday, 5 April 2024, 19:02

The US consumer credit for February surpassed market expectations, showing a $14.12 billion rise. Despite coming slightly below the projected $15.0 billion increase, the figures indicate a positive trend in consumer borrowing. With lending showing a slight slowdown in February, there are speculations that the impact of high interest rates could be at play, particularly in the auto loan segment.

LivaRava Finance Meta Image — February Consumer Credit Sees $14.12 Billion Increase, Slightly Below Expectations

US February Consumer Credit Outshone Expectations

Credit up $14.12 billion

Prior $19.49 billion (revised to $17.68 billion)

Lending was a tad cooler in February so maybe there are signs that high rates are working? Those 14% rates on used car loans aren't exactly enticing.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

US February Consumer Credit Outshone Expectations

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