From the BLOOMBERG:
Borrowing by U.S. consumers unexpectedly rose in January for the first time in a year, led by auto loans and a sign Americans are gaining confidence in the economy.
Consumer credit increased $5 billion, or 2.4 percent at an annual rate, the Federal Reserve said today in Washington. Borrowing dropped $4.6 billion in December, more than first estimated. The figures track credit card debt and non-revolving loans, including those for automobile purchases…
“Spending is holding up,” said David Wyss, chief economist at Standard & Poor’s in New York. “People are feeling a little bit more comfortable. They’re sticking their heads out of the shell a little more.”…
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