| Business

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

Consumer borrowing rose $17.5B in March

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.

By The Associated Press
Thursday, May 8, 2014, 12:01 a.m.

Consumers increased their borrowing in March by the largest amount in more than a year, using their credit cards and taking out more auto and student loans.

Consumer borrowing increased $17.5 billion in March, up from a gain of $13 billion in February, the Federal Reserve reported Wednesday. It was the biggest monthly increase since a $19.3 billion advance in February 2013.

The category that includes auto and student loans rose $16.4 billion, while the category that covers credit card borrowing increased $1.1 billion.

The overall increase in consumer debt pushed total borrowing to a record $3.14 trillion.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business Headlines

  1. CMU showcases its lengthy list of fledgling companies at venture event
  2. Last-minute China worries derailed Fed’s rate hike plans, minutes reveal
  3. Sluggish wage growth may sap retail spending during winter holidays
  4. Rice, Gulfport team on Utica shale pipeline system
  5. Volkswagen executive Horn sidesteps blame in emissions scandal
  6. Other segments nudge Alcoa to slim profit
  7. Power plants challenged by carbon capture and storage
  8. Fed insight gives stocks room to run; S&P 500 regains 2,000 mark
  9. Energy efficiency goes mainstream with help of regulations, demand
  10. Bear sharpens claws on ‘old Pittsburgh’
  11. Coal’s upside? Things can’t get much worse after a dire 2015