Consumer Debt Rose Three Percent in 2005
by Peter Andrew
Consumer
Debt Rose Three Percent in 2005
Year-end credit and debt data released by the Federal Reserve
on Tuesday showed consumer debt rising by about three percent
for the year 2005. Revolving debt such as credit card debt rose
about 2.6 percent, while non-revolving debt such as auto loans
rose about 3.2 percent. The numbers exclude loans on real estate.
Perhaps
surprisingly, given the holiday season, revolving debt actually
went down in December from November, and overall debt in the
fourth quarter of the year was less than in the third quarter
when it reached an all-time high of $2.165 trillion.
Published 02/08/06 (Modified 05/07/12)
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