Consumer Credit Borrowing Slowed in January

Washington, DC, March 8, 2016—Consumer credit increased 3.6% in January, or $10.5 billion, according to the Federal Reserve, the smallest percentage increase since March 2013.

January’s performance was a significant slowdown from December’s 7.3%, or $21.4 billion, increase.

Total consumer borrowing, which does not include mortgage debt, now totals $3.5 trillion.