Washington, DC, March 8, 2006--Consumer credit rose by a less-than-expected $3.94 billion in January as car and boat loans slowed, a Federal Reserve report showed.
Analysts polled by Reuters were expecting a $5 billion rise in consumer credit in the month after a revised $3.42 million gain in December, which was originally reported as a $3.35 billion gain.
Consumer credit outstanding rose to $2.162 trillion in January, rising at an annual rate of 2.2 percent from the revised $2.158 trillion in December.
Revolving credit, which includes credit and charge cards, climbed at a 2.6 percent rate in January after falling 0.9 percent in December.
Non-revolving credit -- closed-end loans for cars, boats, education expenses and holidays -- rose at a 1.9 percent rate in the month after rising 3.6 percent in December.
