US consumer credit increased $8.05 billion in January, or an annualized increase of 1.9%, below expectations of a $12.0 billion increase. The December monthly growth in consumer credit was revised up to $25.2 billion (up from $24.04 billion).

• Revolving credit increased at a SAAR of 4.3%, or $4.71 billion, and nonrevolving credit increased at a SAAR of 1.1%, or $3.34 billion.
• Total outstanding consumer credit edged down to $5.10 trillion (not seasonally adjusted) with revolving credit balances down to $1.29 trillion and nonrevolving credit balances up to $3.80 trillion.