Surf Taiwan News, Browse the World »
US consumer borrowing rose $17.5 billion in March
US consumer borrowing rose $17.5 billion in March, biggest increase in 13 months
By MARTIN CRUTSINGER
Associated Press
2014-05-08 03:22 AM

WASHINGTON (AP) -- Consumers increased their borrowing in March by the largest amount in more than a year, using their credit cards and taking out more auto and student loans.

The Federal Reserve says consumer borrowing increased $17.5 billion in March, up from a gain of $13 billion in February. It was the biggest monthly increase since a $19.3 billion advance in February 2013.

The category that includes auto and student loans rose $16.4 billion while the category that covers credit card borrowing increased $1.1 billion.

The overall increase in consumer debt pushed total borrowing to a record $3.14 trillion.

Gains in borrowing are seen as an encouraging sign that people are more confident and willing to take on debt.

HOME |  WORLD |  Politics |  Business |  Sports |  Lifestyle |  TAIWAN |  Technology |  Health |  SUPPLEMENT |  Society |  OPINION
  • Taiwan News  ©  2014 All Rights Reserved.