Fed Reports Increase in Consumer Credit
The Federal Reserve released its consumer credit figures from January. Analysts were expecting an increase of $5.5 billion, while the increase actually came in at $5.1 billion.
Looking at the release, though, the numbers aren’t so rosy. The December figure was revised higher by $7 billion to $2.524 trillion. January’s figure was revised up $17 billion to $2.535 trillion, a 0.6% increase over January’s original reported figure.
February’s projected consumer credit is at $2.5397 trillion. Expect an upward revision next month.