U.S. consumer credit rises in January

Customers shop at a store in Queens, New York, the United States, on Jan. 12, 2023. (Photo by Ziyu Julian Zhu/Xinhua)

Total U.S. consumer credit climbed 14.8 billion U.S. dollars in January, rising from an increase of 10.7 billion U.S. dollar in the previous month.

WASHINGTON, March 7 (Xinhua) -- U.S. consumer credit increased in January, after a slow December.

Total U.S. consumer credit climbed 14.8 billion U.S. dollars in January, rising from an increase of 10.7 billion U.S. dollar in the previous month, according to data released Tuesday from the U.S. Federal Reserve.

Year on year, that's a 3.7 percent uptick, a gain from the previous month's year-on-year increase of 2.7 percent.