Consumer credit rose in fourth quarter
2/7/2013 9:20:58 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.