Consumer loans in the US increased to $ 4.2 trillion

The US Federal Reserve (Fed) announced February consumer loan data. Consequently, consumer loans in the country increased by $ 27.6 billion per month in February to $ 4.2 trillion.

The market expectation for data showing the highest monthly increase since November 2017 was that consumer loans would increase by $ 5 billion this month. The increase in consumer credit in January was revised to $ 900 million.

During this period, credit card transfer loans and the like increased by $ 8.1 billion per month, while non-transferable loans such as home, car, and student increased by $ 19.5 billion.

Consumer loans rose 7.9 percent year-on-year in February. The data in question did not change in January.

In this period, transferred loans increased 10 percent compared to the same period last year, while non-transferable loans increased 7.3 percent.

Source: Dunya Newspaper by

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