Credit Card and Debt Statistics Database
by Scott Bilker |
Consumer Credit in May 2007 |
Consumer credit rose at an annual rate of 6.4 percent in May 2007, far above the small 1.1 percent gain of April. The increase was propelled by a surge in the category that includes credit cards, which rose at a rate of 9.8 percent. The jump in credit card debt was the largest since a 14.5 percent rate of increase in November. The category of consumer credit that includes auto loans was also up in May, rising at a 4.4 percent rate after a 1.7 percent gain in April. The size of the increase was nearly double what economists had been forecasting. |
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Categories: |
Consumer Debt,Consumer Credit,Federal Reserve |
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Reporting Pub: |
Associated Press |
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Reporting Date: |
7/10/2007 |
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Article
Title: |
Credit card debt increases in May |
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Article
Author: |
Staff |
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Pub's Source: |
Federal Reserve Board |
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Source
URL: |
View details from source |
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