Consumer credit in the US unexpectedly fell for the first time in three months in February, reflecting a sharp drop in credit card balances and a decline in automobile and other non-revolving loans. According to data released by the Federal Reserve on Monday, total consumer credit fell by about US$810 million in February after the January data was revised to increase by US$8.9 billion. Economists estimate the median increase of $15 billion. Credit card and other revolving credit balances increased slightly by $128 million. The balance of non-revolving credit such as car purchases and tuition fees fell by US$938 million, the first decline in nearly a year. According to the above data, American households began to be more cautious about their debt burden in February. Concerns about rising inflation and personal financial conditions continue to heat up due to US President Donald Trump's tariff action. Furthermore, a sudden sharp fall in the stock market may cause the most creditworthy and high-income borrowers to be more cautious about spending and borrowing.

Consumer credit in the US unexpectedly fell for the first time in three months in February, reflecting a sharp drop in credit card balances and a decline in automobile and other non-revolving loans. According to data released by the Federal Reserve on Monday, total consumer credit fell by about US$810 million in February after the January data was revised to increase by US$8.9 billion. Economists estimate the median increase of $15 billion. Credit card and other revolving credit balances increased slightly by $128 million. The balance of non-revolving credit such as car purchases and tuition fees fell by US$938 million, the first decline in nearly a year. According to the above data, American households began to be more cautious about their debt burden in February. Concerns about rising inflation and personal financial conditions continue to heat up due to US President Donald Trump's tariff action. Furthermore, a sudden sharp fall in the stock market may cause the most creditworthy and high-income borrowers to be more cautious about spending and borrowing.