Consumer loans in the US fell short of expectations in January
The US Federal Reserve (Fed) announced consumer loans data for January.
Accordingly, consumer loans in the country increased by 14.8 billion dollars in January compared to the previous month, reaching a volume of 4.8 trillion dollars.
The market expectation for consumer loans was an increase of $20 billion. The increase in consumer loans in December last year was recorded as 10.6 billion dollars.
In this period, credit card and similar transferring loans are $11.2 billion on a monthly basis; Non-transferable loans, such as home, auto and student loans, increased by $3.6 billion.
Consumer loans increased by 3.7 percent year-on-year in January. Rollover loans increased by 11.1 percent and non-transferring loans increased by 1.2 percent in January compared to the same period of the previous year.
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