Consumer borrowing goes up in December

Americans accelerated their borrowing in December for the second straight month, running up more credit card debt and taking out loans to buy cars and attend school.

THE NEWS TRIBUNE

Published: 02/08/12 12:05 am

0 comments

Americans accelerated their borrowing in December for the second straight month, running up more credit card debt and taking out loans to buy cars and attend school.

Consumer borrowing rose by $19.3 billion in December after a $20.4 billion gain in November, the Federal Reserve said Tuesday. The two increases were the biggest monthly gains in a decade.

Total consumer borrowing is now at a seasonally adjusted $2.5 trillion. That nearly matches the pre-recession borrowing level. And it is up 4.4 percent from the September 2010 post-recession low.

Similar stories:

U.S. consumers borrow more in February

U.S. consumers borrow more in February

WASHINGTON — Americans took out more loans to buy cars and attend school in February but used their credit cards less frequently for the second straight month.
We’re spending – and charging – more

We’re spending – and charging – more

WASHINGTON — Americans stepped up borrowing in January to buy more cars and to attend school.
Borrowing up in U.S. for 3rd month in a row

Borrowing up in U.S. for 3rd month in a row

Consumer borrowing surged in November by $20.4 billion, the Federal Reserve said Monday. It was the third straight increase and the largest monthly gain in a decade.
Fed: Several members could support further easing

Fed: Several members could support further easing

Federal Reserve policymakers are open to further efforts to stimulate the U.S. economy if growth falters or threats escalate.
Pace of new credit card accounts picked up in 1Q

Pace of new credit card accounts picked up in 1Q

U.S. credit card users are getting better about making more timely payments, even as banks are increasingly issuing cards to borrowers with less-than-stellar credit.

JOIN THE DISCUSSION | Register here

We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.

SPORTS