US: Consumer credit to have expanded at a steady pace in March - Nomura

Analysts at Nomura explain that as consumer fundamentals remain firm in the United States, they expect consumer credit to have expanded at a steady pace in March (Consensus: $14.0bn).

Key Quotes

“According to the Federal Reserve report, consumer credit increased $15.2bn in February, which is slight acceleration from the $10.9bn increase in January. Revolving credit, which primarily consists of credit card loans, rebounded by 3.5% in February after an unexpected 3.2% drop in January. Nonrevolving, such as education and auto loans, continued to increase at a steady pace of 5.3%.”