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Credit still not being used by many consumers
CommentsConsumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions. Economists worry the declines in borrowing will drag on the fledgling recovery.
The Federal Reserve said Friday that borrowing fell at an annual rate of $14.8 billion in September. That’s the biggest decline since July and was larger than the $10 billion drop economists expected.
Americans are borrowing less as they try to repair cracked nest eggs and replenish rainy day funds in a dismal jobs market.
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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.
Comments are displayed newest first. If you would like to read a thread from beginning to end, select "Oldest first" from the drop down menu.
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