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Consumer credit in the US is falling against expectations
05 March 2021 11:29 PM
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05 March 2021 11:29 PM
Direct: Consumer credit in the US fell against analyst expectations in January, with the decline in renewable credit.
Fed data showed on Friday that consumer credit in the United States fell 0.4 percent, or $ 1.4 billion, on an annual basis in January, compared to an increase of about 2.5 percent, or $ 8.8 billion, in the previous December.
Analysts had expected US consumer credit to rise by $ 11.8 billion over the same period.
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Revolving credit, which includes credit cards, declined by 12.2 percent during the first month of 2020, compared to a decline of 3.4 percent in the previous month.
Non-renewable credit, “student and auto loans,” rose by 3.2 percent in January, compared to a rise of 4.4 percent in the previous month.
By 8:20 PM GMT, the main dollar index, which measures the currency's performance against the six major currencies, was down 0.4 percent to 91.97.
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