Â
Sponsored by
NATIONAL NEWS
US consumer debt rises on more car, school loans
Posted: Jan 8, 2013 12:33 PM by The Associated Press
WASHINGTON (AP) - Americans borrowed more to buy cars and attend school in November, gains that pushed consumer debt to an all-time high.
The Federal Reserve says consumers increased their borrowing by $16 billion in November compared with October. Total borrowing rose to a record $2.77 trillion.
Borrowing in the category that covers autos and student loans increased $15.2 billion. Credit card debt rose just $817 million.
Consumer spending rebounding in November, helped by lower gas prices and solid job growth that carried over into December. Employers added 155,000 jobs in December and 161,000 in November.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at feedback@ksby.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
KSBY.COM VIDEOS
-
Search and rescue efforts continue for seven still missing in wake of Texas tornados
Views: 16 May 17, 2013
Comments