US consumers increased their borrowing by $11.6 billion
WASHINGTON - Consumers increased their borrowing in January at the slowest pace in more than a year with borrowing on credit cards actually declining for the second time in the last three months.
The Federal Reserve reports that consumer borrowing expanded $11.6 billion in January following a $17.9 billion gain in December. It was the smallest monthly increase since borrowing rose by $8.3 billion in November 2013.
Borrowing in the category that includes credit cards actually declined by $1.16 billion in January following a $6.2 billion increase in December and a decrease of $537 million in November. Borrowing in the category that covers auto loans and student loans rose $12.7 billion in January after a gain of $11.7 billion in December.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Teens recognized as state\'s top future soldiers by Governor Edwards
Coursey Blvd. gardening business vandalized, owner says more than $10,000 in damages
Man arrested accused of injuring prominent realtor in Prairieville
Baton Rouge man treated by President Trump's doctor after medical emergency
Families, veterans pay respects on Memorial Day at Port Hudson National Cemetery