Consumer Lending Reaches Record High in March; Business Lending Increases for Second Week

Update: Thanks to Barry Rithhokz for pointing out that there was a one-time accounting change that led to the jump.

Consumer lending jumped by more than $83 billion in March to $901.6 billion, the highest level in history, according to data recently released by the Federal Reserve (see chart above).

Business lending increased the last week of March and the first week of April, the first two back-to-back weekly increases since December 2008, see chart below (data here).