US Consumer Borrowing Rises at Feeble Pace Again

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Source:   —  April 07, 2016, at 10:11 PM

S. consumers borrowed at a modest pace in Feb for the second mo in a row, proof of ongoing caution that's kept a lid on spending this year.

U. S. consumers borrowed at a modest pace in Feb for the second mo in a row, proof of ongoing caution that's kept a lid on spending this year.

The Federal Reserve says borrowing rose at a five.8 % annual rate, only slightly over January'south 5 % pace. January'south climb was the smallest in more than two years. The utilize of revolving credit — mostly credit cards — rose just 3.7 % after slipping in January.

Americans barely increased their spending in February. More hiring and cheaper gas may have also reduced some consumers' necessity for credit cards.

The borrowing figures comprise learner and auto loans, as well as credit card debt. They exclude housing-related debt such as mortgages and residence equity lines of credit, and other housing-related debt.

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