U.S. Consumer Debt Rises More Than Forecast in March


	U.S. Consumer Debt Rises More Than Forecast in March

JICWyllie

5-8-2008 4:25 PM

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tags:

economy, consumers, i-debt, i-increase, i-record

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d453004e-c74b-4246-8478-90b2c66dc869/67793F2A-6AF9-4FA5-8663-288C58BF3198/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSN4AbFYIoCc" href="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSN4AbFYIoCc" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSN4AbFYIoCc">U.S. consumer borrowing jumped more
than double the amount economists <A href="http://www.bloomberg.com/apps/quote?ticker=CICRTOT:IND">forecast</A> in March, indicating
a slowing economy is forcing Americans to accumulate credit-card
and other forms of debt.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSN4AbFYIoCc">``Consumers are strapped as incomes are not keeping up with
inflation and this is leading them to rely increasingly on
credit to see them through the worst housing downturn since the
Great Depression,'' said <A href="http://search.bloomberg.com/search?q=Chris+Rupkey&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Chris Rupkey</A>, chief financial economist
at Bank of Tokyo-Mitsubishi </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSN4AbFYIoCc">Overdue payments at the six largest U.S. credit-card
lenders reached the highest since November 2004, according to
data compiled by Bloomberg</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSN4AbFYIoCc"><A href="http://www.bloomberg.com/apps/quote?ticker=GE:US">General Electric Co.</A> will stop writing new consumer loans
for recreational vehicles in North America because financial
returns are too low,</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/67793F2A-6AF9-4FA5-8663-288C58BF3198/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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