Consumer Credit Growth Increased 5.1 Percent in March

In February, consumer credit increased at a seasonally adjusted annual rate of 5.1%. Revolving credit increased at an annual rate of 2.4%, while nonrevolving credit increased at an annual rate of 5.9%.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising approximately 41.4% of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders, with 25.1% and 16.9%, respectively, of outstanding non-revolving credit.

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Hugo Dante

Hugo Dante is a specialist in economic research in the Economic Policy and Research group at the ABA.