Consumer credit climbed in March

Consumer borrowing rose in the first quarter of 2013, although credit card debt was little changed, the U.S. Federal Reserve said. The Fed said total borrowing rose 5.75 percent on a seasonally adjusted annual rate with non-revolving credit -- which includes auto loans, personal loans and student loans -- up 8.1 percent on an annual rate and revolving credit up 0.2 percent. For March, consumer credit rose at an annual rate of 3.5 percent, the Fed said in a report released late Tuesday. The quarter ended with total consumer debt at $2.807 trillion -- $1.961 trillion in non-revolving debt and $846.2 billion in revolving debt, the Fed said.