Tuesday, May 8, 2007

Consumer Credit Expands

From IBD:

March's rise was much better than expected and the best since Nov. Credit-card borrowing and auto loans both showed notable gains. The overall economy grew at a sluggish 1.3% annual rate in Q1 amid a housing slump and stagnant business investment. But consumer spending held up reasonably well. There are some signs that spending growth may cool in Q2.

Here's a link to the Federal Reserve Report.

Consumers continue to go into debt at the expense of savings.