Tags: Consumer Credit

Consumers Borrowed More on Credit Cards in March

Friday, 06 May 2011 03:09 PM

Consumers used their credits card more in March, marking only the second increase in more than two years since the height of the financial crisis.

The Federal Reserve says consumers increased their borrowing by $6 billion in March, the sixth consecutive monthly gain. Consumers borrowed more to finance car loans for the eighth straight month. And a category of borrowing that includes credit card use rose for only the second time since August 2008.

More frequent credit card purchases could be a sign that consumers are feeling more confident about the economy.

The 3 percent overall increase pushed consumer borrowing to a seasonally adjusted annual level of $2.43 trillion, still just 1.3 percent higher level than a nearly four-year low of $2.39 trillion hit in September.

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Economy
Consumers used their credits card more in March, marking only the second increase in more than two years since the height of the financial crisis.The Federal Reserve says consumers increased their borrowing by $6 billion in March, the sixth consecutive monthly gain....
Consumer Credit
126
2011-09-06
 

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