TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Consumer debt up $16.2B in January

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

By The Associated Press
Friday, March 8, 2013, 12:01 a.m.
 

WASHINGTON — Americans stepped up borrowing in January to buy cars and attend school, while staying cautious about using their credit cards.

The Federal Reserve says consumer borrowing rose $16.2 billion in January from December to a total of $2.8 trillion. That's the highest level on record.

A category that covers student loans and auto loans grew $16 billion after an $18.3 billion gain in December.

Consumers barely increased credit card debt in January, when higher Social Security taxes lowered take-home pay for most workers.

A measure of credit card debt rose only $106.1 million. That followed a $3.2 billion drop in December.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Post-Gazette offers voluntary buyouts in bid to avoid layoffs
  2. Stocks bounce back from big losses to close relatively flat
  3. Muni bond funds stressed
  4. GNC to convert more stores to franchises as sales, profits slip
  5. Kennametal expects to consolidate plants as it shrinks manufacturing in continuing streamlining; profit drops
  6. Ambridge’s PittMoss takes off with help from TV show, Mt. Lebanon native Cuban
  7. EPA ordered to ease limits on cross-border air pollution that involves Pennsylvania
  8. United Airlines hack coincided with incursion into government employee data
  9. Travelers find direct Web route to Priory’s spirited past in North Side
  10. PPG puts brand 1st in strategy to reach commercial paint market
  11. Range Resources cuts workforce 11%