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April 07, 2011

Federal Reserve Reports Consumer Credit for February 2011

FedThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "Consumer credit increased at an annual rate of 3.75% percent in February 2011. Nonrevolving credit increased at an annual rate of 7.75 percent, while revolving credit decreased at an annual rate of 4%."

The 2009 Survey of Consumer Payment Choice

Boston fed logo 140pxThe Federal Reserve Bank of Boston has announced that a new public policy discussion paper on consumer payment choice is now available.

In 2009, the average U.S. consumer held 5.0 of the nine payment instruments available, including cash, and used 3.8 of them during a typical month. Between the 2008 and 2009 surveys, a period that includes the trough of the latest recession, consumers significantly increased their use of cash and close substitutes for cash, such as money orders and prepaid cards.
By focusing on payments by consumers only, the SCPC complements the recent 2010 Federal Reserve Payment Study, which describes the entire noncash payments economy.

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