US consumer loans beat expectations in March

The US Federal Reserve released its consumer loan data for March.

Accordingly, consumer loans in the country increased by 26.5 billion dollars in March compared to the previous month, reaching a volume of 4.85 trillion dollars.

The expectation was that consumer loans would increase by $17 billion. The increase in consumer loans in February was 15.03 billion dollars.

In this period, credit card and similar transferring loans are 17.6 billion dollars on a monthly basis; Non-transferable loans, such as home, auto and student loans, increased by $8.9 billion.

Consumer loans increased by 6.6 percent year-on-year in March. Rollover loans increased by 17.3 percent and non-transferring loans increased by 3 percent in March compared to the same period last year.