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Consumer credit rose in fourth quarter

Feb. 7, 2013 at 4:20 PM   |   Comments

WASHINGTON, Feb. 7 (UPI) -- Consumer borrowing rose in the fourth quarter although credit card debt was little changed, the U.S. Federal Reserve said Thursday.

The Fed said total borrowing rose 6.5 percent on a seasonally adjusted annual rate with non-revolving credit -- which includes auto loans, personal loans and student loans -- up 9.4 percent and revolving credit up 0.1 percent.

The fourth quarter ended with total consumer debt at $2.747 trillion -- $1.928 trillion in non-revolving debt and $849.8 billion in revolving debt.

Consumer credit rose at an annual rate of 6.25 percent in December, the Fed said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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