Reply #48: Consumer Credit in U.S. Climbed More Than Forecast in December

[Viva_La_Revolution]

http://www.businessweek.com/news/2011-02-07/consumer-credit-in-u-s-climbed-more-than-forecast-in-december.html

Feb. 7 (Bloomberg) -- U.S. consumer borrowing rose in December for a third consecutive month, led by the first increase in credit-card charges in more than two years as holiday sales improved.

Credit rose by $6.1 billion to $2.41 trillion after increasing a revised $2.02 billion in November, according to Federal Reserve data issued today in Washington. Economists projected a $2.4 billion increase in the measure of credit card debt and non-revolving loans, according to the median forecast in a Bloomberg News survey. Borrowing peaked at $2.58 trillion in July 2008.