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U.S. consumer credit rose for a fourth straight month in January as households splurged on motor vehicles, further evidence the economy was gaining traction.
The Federal Reserve said on Monday total outstanding credit, which covers everything from car loans to credit cards, increased by $5.01 billion after rising $4.09 billion in December. That was above economists’ expectations for a $3.90 billion increase. Get the full story »
Americans increased credit-card use for the first time since 2008, a sign they are growing more confident about the economy and opening their wallets wider.
The surprising rise in December revolving credit as tracked by the Federal Reserve pushed up consumer credit outstanding by $6.1 billion, or 3.0 percent, to $2.41 trillion. Economists surveyed by Dow Jones Newswires had forecast the Fed data Monday would show consumer credit rising by only $2.5 billion. Get the full story »
Americans kept their credit cards at bay in November, subdued by high joblessness and fallen home values.
The 27th straight drop in revolving credit restrained overall consumer borrowing, according to the Federal Reserve’s monthly consumer credit data. Get the full story »
U.S. consumer credit outstanding declined for the seventh straight month in August as credit card debt continued to fall.
The Federal Reserve said Thursday that total outstanding credit, which covers everything from car loans to credit cards, fell by $3.34 billion after dropping $4.09 billion in July. Get the full story »
