Fed: Consumers Slow Increase in Revolving Debt in 2005
The AP reports on Federal Reserve's report that 2005 saw the smallest growth in consumer revolving debt in 23 years, rising just 2.6 percent for the year. Revolving debt actually fell by 1.4 percent on an annualized basis for December 2005.
Analysts said some of that slowdown reflected that fact that Americans have stepped up borrowing through home equity loans rather than increasing credit card debt.The complete consumer credit report from the Federal Reserve is available online.
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