US consumer borrowing jumped more than double the amount economists forecast in March, indicating a slowing economy is forcing Americans to accumulate credit-card and other forms of debt.
Consumer credit increased by $US15.3 billion for the month to $US2.56 trillion, the biggest monthly rise since November, the Federal Reserve said today in Washington. In February, credit rose by $US6.5 billion, previously reported as an increase of $US5.2 billion. The Fed’s report doesn’t cover borrowing secured by real estate, such as home-equity loans. for more click here