By Ovunc Kutlu
ISTANBUL (AA) - US consumer credit rose around $6.3 billion in March, compared to the previous month to reach almost $5.06 trillion, according to the Federal Reserve on Tuesday.
The figure, however, came lower than the market expectation of $14.8 billion increase.
Total consumer credit showed an approximately $15 billion increase in December.
"In March, consumer credit increased at an annual rate of 1.5 percent," the Fed said in a statement.
"Consumer credit increased at a seasonally adjusted annual rate of 3.2 percent during the first quarter," it added.