Consumer credit rose in fourth quarter

Feb. 7, 2013 at 4:20 PM

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.

Related UPI Stories
Latest Headlines
Trending Stories
Police: 2 shot, 1 dead near Texas Southern University
Listeria threat prompts Whole Foods cheese recall
Russia says missiles aimed at Syria did not land in Iran
Captive orca breeding banned at California's SeaWorld
Wrong drug used in Oklahoma execution