Consumer Credit Report Released By Fed: Borrowing Increased by $17.8 bn.

The Federal Reserve released it’s report on the State on Consumer credit today. The report noted an increase in borrowing by consumers of $17.8 bn in January,  much less than the massive increases in borrowing of $20.4 and $19.3 billion in November and December respectively. Analysts had judged that the increase in consumer credit would be around $10 billion for January. This number far exceeds expectations.

The released figure is up for revision until three months after this report and can often be greatly revised. The initial release has in the...