Consumer credit fell at an annualized rate of -0.2%, or -$0.8 billion, in February, well below expectations of an increase of $15.2 billion.

• Total revolving credit increased at an 0.1% rate while total nonrevolving credit fell at an -0.3% rate.
• Interest rates on new car loans increased, while rates on credit card plans and personal loans broadly eased.
• The rates on 24-month personal loans fell to 11.66%, much lower than the 2024 rate of 12.27%.