Your Economy (No Politics)

[Bullwinkle]

U.S. February consumer credit rises 1.8%
Friday, April 7, 2006 7:31:31 PM
http://www.afxpress.com


WASHINGTON (AFX) -- U.S. consumers took on an extra $3.26 billion in debt in February, pushing total outstanding consumer credit up by 1.8% to $2.163 trillion, the Federal Reserve reported Friday

The overall credit number for January was revised to rise by 3.4%, compared with the previously estimated 2.2%. Revolving debt such as that on credit cards increased by $802 million in February, or an annualized 1.2%. In January, revolving debt rose a revised 3.3%, or by $2.2 billion. Nonrevolving debt like automobile loans rose by $2.5 billion, or 2.2% annualized in February. Nonrevolving debt for January was revised higher, to an increase of 3.5% compared with the previously reported increase of 2%. Analysts surveyed by MarketWatch were expecting consumer credit to rise by $3.4 billion. The credit figures don't include debt backed by real estate, like mortgages or home-equity loans.

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