Consumer Credit Spikes Upward in June 2006
Consumer credit jumped by $10.3 billion in June 2006, according to the latest figures released by the Federal Reserve. Of that amount, $6.65 billion was in the form of revolving (credit card) debt. With most analysts predicting an increase of just $4 billion in June, these figures were much higher than expected. In addition, the May numbers were revised upward from $4.4 billion to $5.88 billion. Total U.S. consumer debt, not including mortgages, now stands at $2.19 trillion. (Click to continue reading this post…)