Credit, Economy and Financial News from TruckingFactor.com

Consumer Credit up in January

After three months of declines, consumer borrowing rose unexpectedly in January. The Federal Reserve said borrowing increased at an annual rate of $1.76 billion in January, after borrowing fell at a rate of $7.48 billion in December. The small increase came largely from the category that includes credit cards, which rose at a 1.2% annual rate after falling at a 9.5% rate in December. The category that covers auto loans showed an increase of 0.6%, after a slight gain of 0.1% in December.

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Date Last Updated: 03/11/2009