US consumer credit rises $6.4B in April: Fed

March figure sharply revised down from rise of $6.3B to decline of $1.1B

By Ovunc Kutlu

ISTANBUL (AA) - US consumer credit rose around $6.4 billion in April, compared to the previous month, to climb more than $5.05 trillion, according to the Federal Reserve on Tuesday.

The figure came much lower than the market expectation of a $9.5 billion increase.

Consumer credit for March, meanwhile, was significantly revised down from a rise of $6.3 billion to a decline of $1.1 billion.

After falling 0.3% in March, total consumer credit rose at a seasonally adjusted annual rate of 1.5%, the Fed said in a statement.

"Revolving credit decreased at an annual rate of 0.4 percent, while nonrevolving credit increased at an annual rate of 2.2 percent," it added.

Kaynak:

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