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Reply #1: From an article last Monday RE: credit card debt... [View All]

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Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007)

Purveyor

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Wed Aug-09-06 10:27 PM
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1. From an article last Monday RE: credit card debt...

Americans rack up additional credit card debt

Associated Press

WASHINGTON - Americans increased their borrowing in June at a much faster pace than expected, with the rise led by higher credit card debt.

The Federal Reserve reported Monday that consumer borrowing rose at an annual rate of 5.7 percent in June, up sharply from a 3.3 percent increase in May.

The June advance reflected a rise in consumer debt of $10.27 billion at an annual rate, much larger than the $3.7 billion increase economists had been expecting.

http://www.chron.com/disp/story.mpl/business/4100515.html

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