News Summary: US consumer borrowing up in April

Posted at: 06/07/2013 3:05 PM
By The Associated Press

BORROWING UP: Americans increased their borrowing by $11.1 billion in April to a seasonally adjusted $2.82 trillion. That’s the 20th straight monthly gain to another record level.

AUTOS, STUDENT LOANS: A category that includes auto and student loans accounted for almost all of the increase, rising $10.4 billion. A measure of credit card debt rose only slightly, increasing by $682 million.

OUTLOOK: Consumers have been hesitant to run up high-interest credit card debt since the recession. And many are likely to stay cautious this year because higher Social Security taxes have reduced most paychecks.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

Print  

Advertisement | Your Ad Here

Advertisement | Your Ad Here

Home
Set Home
SMS Text Alerts
Text Alerts
Email
Email News
RSS
RSS
Android App
Android App
iPhone - iPad App
iOS App

Advertisement | Your Ad Here


Site Index