Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

US {consumer} borrowing saw unexpected rise in January (BBC)

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Topic Forums » Economy Donate to DU
 
eppur_se_muova Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-06-10 11:41 PM
Original message
US {consumer} borrowing saw unexpected rise in January (BBC)
Borrowing by US consumers rose for the first time in a year in January, according to the Federal Reserve.

The central bank said consumer credit rose 2.4% or $5bn (£3.3bn) from December 2009 to a total of $2.45 trillion in the first month of 2010.

It was the first gain after a record 11 straight declines and it was the largest increase since July 2008.

Analysts were expecting a $4.5bn decrease in January following a $4.6bn fall in December.

January's figure was boosted by a $6.62bn, or 5%, increase in credit for car loans.
***
more: http://news.bbc.co.uk/2/hi/business/8553081.stm




Crisis over, time to start spending our kids' inheritance again. :eyes:
Printer Friendly | Permalink |  | Top
Birthmark Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-07-10 12:07 AM
Response to Original message
1. I'll gladly pay you Tuesday...you know the rest. nt
Printer Friendly | Permalink |  | Top
 
metapunditedgy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-07-10 01:16 AM
Response to Original message
2. So does this mean consumers are more optimistic?
Are people willing to put stuff on credit again? Or are they just running out of other options?
Printer Friendly | Permalink |  | Top
 
upi402 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-07-10 05:13 AM
Response to Original message
3. May be spending their kids' inheritance
Or they may be buying their kids' school lunches next week with credit cards. I will when we get there.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed Apr 24th 2024, 03:19 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Topic Forums » Economy Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC