Last updated: October 07. 2013 3:37PM - 577 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) Americans cut back on using their credit cards in August for a third straight month, a sign that consumers remain cautious about spending.


The Federal Reserve says that consumers increased their borrowing $13.6 billion in August to a record high of $3.04 trillion. That followed a gain of $10.4 billion in July.


But once again the gain was driven entirely by auto and student loans. A measure of that debt rose $14.5 billion to $2.19 trillion. Credit card debt dropped $883.4 million to roughly $850 billion.


Associated Press
Comments
comments powered by Disqus


Featured Businesses


Poll



Mortgage Minute