News Column

Consumer Credit Rose in Q4

Feb. 7, 2013
Hispanic womn shopping online with credit card

Consumer borrowing rose in the fourth quarter although credit card debt was little changed, the U.S. Federal Reserve said Thursday.

The Fed said total borrowing rose 6.5 percent on a seasonally adjusted annual rate with non-revolving credit -- which includes auto loans, personal loans and student loans -- up 9.4 percent and revolving credit up 0.1 percent.

The fourth quarter ended with total consumer debt at $2.747 trillion -- $1.928 trillion in non-revolving debt and $849.8 billion in revolving debt.

Consumer credit rose at an annual rate of 6.25 percent in December, the Fed said.



Source: Copyright United Press International 2013


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters