The Canadian Press - ONLINE EDITION

US consumers boost borrowing $18.8 billion in December, biggest gain in 10 months

  • Print

WASHINGTON - Consumers boosted their borrowing in December by the largest amount in 10 months as demand for auto, student and credit card loans showed big gains.

The Federal Reserve says consumer borrowing rose $18.8 billion in December, the biggest increase since February. The category that includes auto and student loans increased the most, rising $13.8 billion. Credit card debt, which has been lagging, rose by $5 billion. That was the largest jump since May.

The big increase pushed total borrowing to a fresh record of $3.1 trillion. Gains in borrowing are viewed as an encouraging sign that consumers are more confident and willing to take on more debt to finance consumer spending, which accounts for 70 per cent of economic activity.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

In the Key of Bart: Peladeau-Re-Mi

View more like this

Photo Store Gallery

  • A squirrel enjoys the morning sunshine next to the duck pond in Assiniboine Park Wednesday– June 27, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • A Great Horned Owl that was caught up in some soccer nets in Shamrock Park in Southdale on November 16th was rehabilitated and returned to the the city park behind Shamrock School and released this afternoon. Sequence of the release. December 4, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS

View More Gallery Photos

Poll

Do you think Manitoba needs stronger regulations for temporary workers?

View Results

View Related Story

Ads by Google