US consumer borrowing expanded $20.5 billion in March

[Omaha Steve]

Source: AP-Excite

By MARTIN CRUTSINGER

WASHINGTON (AP) — Consumers increased their borrowing in March by the largest amount in nearly a year as borrowing on credit cards rebounded following two months of declines.

Consumer borrowing expanded by $20.5 billion in March to a fresh record of $3.36 trillion, the Federal Reserve reported Thursday. It was the largest increase since a $26.7 billion surge in April 2014.

Borrowing in the category that covers credit cards shot up $4.4 billion to $889.4 billion in March after having fallen in both January and March. It was the biggest gain for consumer credit since last July.

Borrowing in the category that covers auto and student loans rose $16.2 billion to $2.47 trillion.

FULL story at link.



FILE - In this Nov. 27, 2014 file photo, a woman pays for merchandise at a Kohl's department store in Sherwood, Ark. The Federal Reserve releases consumer credit data for March 2015 on Thursday, May 7, 2015. (AP Photo/Danny Johnston, File)

Read more: http://apnews.excite.com/article/20150507/us-consumer-borrowing-2204df28c2.html

[PSPS]

1. Translation: Our "recovering" and "booming" economy is a mirage fueled by debt (again.)

[redstatebluegirl]

2. I have noticed a lot more people using credit cards at grocery stores lately.

I think this is another sign of the middle class being pinched.