Wed, 08 Feb 2012 07:38:41 GMT
US Consumer borrowing surged in December
Consumer credit in US soared more than expected in December, lifted by vehicles demand and student credits. Loans climbed by USD 19.3 billion totalling USD 2.5 trillion, said Federal Reserve today. The gain substantially outperformed economists' predictions who forecast an increase of USD 7 billion. The improvement in lending can be associated with stronger consumer confidence, suggest analysts.