News Summary: US consumer debt up in November

Published on NewsOK Modified: January 8, 2013 at 4:35 pm •  Published: January 8, 2013
Advertisement
;

INDEBTED: U.S. consumers took on more debt in November to buy cars and go to school. They stayed cautious in their use of credit cards.

IT'S A RECORD: The Federal Reserve said consumer borrowing increased by $16 billion in November, compared with October, to a seasonally adjusted record of $2.77 trillion. Borrowing that covers autos and student loans increased $15.2 billion.

LESSONS LEARNED: Economists look for those trends to continue, with Americans remaining cautious about running up debt on credit cards but willing to take out school loans. Many who have lost jobs have gone back to school.



Trending Now


AROUND THE WEB

  1. 1
    Sex Valley: Tech's booming prostitution trade
  2. 2
    Colorado Is Consuming Way More Pot Than Anyone Ever Believed
  3. 3
    What Dan Gilbert said to LeBron James to get him to return to Cleveland
  4. 4
    Female Yahoo Exec Sued By a Female Employee for Sexual Harassment
  5. 5
    A company wants you to experiment on Facebook — by quitting
+ show more