Consumer Credit Increases for First Time in a Year

The Federal Reserve Board has released its consumer credit statistics for January 2010.  The month showed the first increase in consumer credit since January 2009, +$5 billion (annual rate of  2.4 percent), led by non-revolving debt such as auto loans, personal loans and student loans. December 2009 consumer credit figures were revised downward to -$4.6 billion from -$1.7 billion.  Credit-card debt fell  2.4 percent in January, the 16th straight monthly drop.

To view the full January 2010 release, please click on the “Consumer Credit Statistics” page on the menu bar above.