Your Economy (No Politics)

[Bullwinkle]

U.S. Jan. consumer credit rises 2.2%
Tuesday, March 7, 2006 8:17:04 PM
http://www.afxpress.com


U.S. Jan. consumer credit rises 2.2% WASHINGTON (AFX) -- U.S. consumers took on an extra $4 billion in debt in January, pushing total outstanding consumer credit up by 2.2% to $2.162 trillion, the Federal Reserve reported Tuesday. Revolving debt like credit cards increased by $1.7 billion in January, or 2.6% annualized. For December, revolving debt was revised lower, to fall by 0.86% or $575 million. Non-revolving debt like automobile loans rose by $2.17 billion, or 2% annualized. Non-revolving debt for December was revised downward, to gain 3.55% versus the previously reported gain of 3.8%. Analysts surveyed by MarketWatch were expecting consumer credit to rise by $5.4 billion. Overall credit rose at a revised annual rate of 2% in December, or by $3.4 billion, the Fed said. The credit figures don't include debt backed by real estate, like mortgages or home equity loans.

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