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Article: US consumer credit increases lightly in December
- Article from:
- Xinhua News Agency
- Article date:
- February 7, 2005
CopyrightCopyright 2005 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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US consumer credit increases lightly in December
WASHINGTON, Feb. 7 (Xinhua) -- US consumer credit increased at an
annual rate of 1.8 percent in December last year to a record 2. 1
trillion dollars, the Federal Reserve reported Monday.
The reading for December represented a gain of 3.1 billion dollars
in borrowing from November. However, the gain was considerably
smaller than the 8 billion dollars over-the-month rise that
economists were forecasting.
In December, demand for revolving credit -- mostly credit cards --
rose at a 1.4 percent annual rate, or by 925 million dollars. That
was up from a growth rate of 0.8 percent, or an increase of 554
million dollars, for this type of credit ...