Latest News:  


U.S. consumer credit jumps 7 percent in January


08:21, March 08, 2013

WASHINGTON, March 7 (Xinhua) -- U.S. consumer credit increased at an annual rate of 7 percent in January, evidence of the expanding consumer spending and ongoing economic recovery, U.S. Federal Reserve reported on Thursday.

Total consumer borrowing rose from a revised 2.7792 trillion U. S. dollars in December 2012 to a record of 2.7953 trillion dollars in January, the central bank said in a report.

Revolving debt, the type which includes credit cards, edged up at an annual rate of 0.1 percent to 850.9 billion dollars in January.

In January, the borrowing in the non-revolving category that includes auto and students loans, surged at an annual rate of 10 percent to 1.9444 trillion dollars.

Consumer spending, which accounts for about 70 percent of the overall U.S. economic activities, was the major engine of U.S. economic growth. An increase in consumer credit indicated consumers boosted their spending.

We recommend:

Beihai, a Rising Young Star

China's jumbo jet C919 expected to fly

More loans extended to support agriculture

Direct trade in RMB increases in Thailand

Energy trade surplus for US

China seeks economic transformation

Email|Print|Comments(Editor:MaXi、Liang Jun)

Leave your comment0 comments

  1. Name


Selections for you

  1. Navel landing ships perform military tasks

  2. Newly-recruited female soldiers in training

  3. 83rd Geneva Int'l Motor Show opens

  4. The best partners during ' two sessions'

  5. Yao Ming, the CPPCC Member

  6. 'Fresh style' in Chinese cities

  7. Grand Canal and Silk Road set for world heritage list

  8. Forever Shangri-la: heaven on earth

  9. Home tax worry addressed

  10. Foreign nuclear deals 'on way'

Most Popular


  1. Books for youngsters' the fastest-growing genre
  2. Life of the never-touch-a-pan generation
  3. Chinese films ought to tell Chinese stories
  4. Lei Feng spirit never out of date
  5. Call to relax adoption criteria
  6. China has its own Golden Raspberry Awards
  7. Chinese tourists reflect nation's character
  8. Spoiled brats spring from pampering parents
  9. A smile can succeed where a scowl fails
  10. Reducing income inequality an urgent task

What’s happening in China

Shanghai Disney Resort unveils resort concept

  1. China to develop poverty-stricken city
  2. Electric vehicle buyers will get car plates
  3. Court warns over deceits in online sales
  4. Beijing to control urban expansion: mayor
  5. Professionals called in to halt rising divorce rate