US Consumer Credit Rises $6.3B In March: Fed

US consumer credit rose around $6.3 billion in March, compared to the previous month to reach almost $5.06 trillion, according to the Federal Reserve on Tuesday.

The figure, however, came lower than the market expectation of $14.8 billion increase.

Total consumer credit showed an approximately $15 billion increase in December.

"In March, consumer credit increased at an annual rate of 1.5 percent," the Fed said in a statement.

"Consumer credit increased at a seasonally adjusted annual rate of 3.2 percent during the first quarter," it added. -