US consumer borrowing slows down (BBC)

[eppur_se_muova]

US consumers borrowed less money than expected in February after January's huge credit-based shopping spree, according to a Federal Reserve report.

Consumer credit - loans to individuals that aren't mortgages - rose by $3.3bn, well down on January's jump of $6.14bn.

Outstanding consumer credit in the US now stands at $2.164 trillion.

Analysts say people have been borrowing less on credit cards and taking out loans on the equity value of their homes - a cheaper form of credit.
***
http://news.bbc.co.uk/2/hi/business/4889908.stm

ON EDIT: Note the "good news" here is that the bad news is not as bad as was expected. Thrills.

[Viva_La_Revolution]

1. and "Retail sales up a disappointing 1.9% in March"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x866424


but don't worry! Shrubbie says the economy is GREAT! :eyes:

[SammyWinstonJack]

2. He forgot say that the eCONomy is great for his base, you know,

"The Elite, the Haves and Have Mores" You *one paycheck away from the poorhouse* repugs got screwed by your "Christian" pResident. :rofl: How does it feel? :spank:

[LiberalPartisan]

3. So we've maxed out our cards and now we're maxing out 2nd mortgages? n/t

[WePurrsevere]

4. Great... so when they get laid off because their job is outsourced....

they lose their homes. :(

[mom cat]

7. And the shelters are losing funding.

[SoCalDem]

5. "a cheaper form of credit"..Hah!

turning your house into an ATM for vacations, cars & flat screen tvs is not CHEAP.. It's INSANE.

[Jamison]

6. With the Fed interest rate hike frenzy...

borrowing is becoming too expensive.