Consumer Debt Rose Three Percent in 2005

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)