Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

BOOM: CONSUMER CREDIT BEATS EXPECTATIONS, JUMPS $16 BILLION

Sam RoMar 8, 2013, 01:30 IST

Philip Taylor PTThe Federal Reserve's January G.19 report on consumer credit is out.

Total consumer credit outstanding jumped by $16.15 billion, which was ahead of expectations for growth of $14.7 billion.

Revolving debt (e.g. credit cards) climbed by just 0.1 percent, while non-revolving debt (e.g. car loans) jumped 10.0 percent.

This only adds to the evidence that suggests consumer deleveraging is over.