3:00pm 05/07/03
Slimmest consumer credit rise in four months By Rachel Koning
Consumer credit increased by $930 million or 0.6 percent in March to $1.74 trillion, the slimmest increase since borrowing contracted last November, the Federal Reserve said Wednesday. Economists polled by CBS MarketWatch.com thought credit probably rose by $3.1 billion that month. Revolving credit, or credit card use, rose $2.3 billion or 3.9 percent. Nonrevolving credit -- including car loans and other borrowing -- slumped 1.7 percent or $1.4 billion, the Fed said. Borrowing in the first quarter increased 3.75 percent after little change in the fourth quarter.
