Consumer Debt Climbs 7.3 Percent

Americans’ consumer debt rose at a 7.3 percent annual rate in March, the smallest gain in six months, held back in large part by lagging automobile loans.

The Federal Reserve said Tuesday that consumer credit increased by $6.4 billion, about half the $12.2 billion advance in February. It was the smallest increase since installment debt grew $4.1 billion last September.

Many analysts had expected consumer credit to increase by about $10 billion in March.

The advance boosted total consumer debt to $1.054 trillion, 13 percent higher than the $933 trillion in March 1995.