dcsimg Consumer Debt Rose Three Percent in 2005 - indexcreditcards.com

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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.

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