U.S. consumer debt rose in January
U.S. consumer debt rose in January by the least in four months on a sharp slowdown in use of revolving products such as credit cards, Federal Reserve data showed Wednesday. Total credit rose $13.9b m/m (est. $17.7b gain) and follows a revised $19.2b Dec. gain (prev. $18.4b) Revolving credit outstanding rose $701m, least since Feb. 2015, after a $6.1b Dec. increase Non-revolving debt outstanding climbed $13.2b after a $13.1b riseKey Takeaways The slow growth in revolving debt, in line with sluggish household spending figures reported for January, indicates consumers may have been reluctant to increase credit-card balances following robust outlays in the fourth quarter. Gains in overall consumer credit cooled for a second month.
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