US Consumer Debt Rises On More Car, School Loans
The economy has been showing signs of improvement.
Consumers boosted their spending in November, helped by lower gas prices and solid job growth that carried over into December. Employers added 155,000 jobs in December and 161,000 in November.
Steady hiring may have encouraged consumers to keep borrowing and spending, despite tense negotiations to resolve the fiscal cliff.
Still, some analysts expect borrowing and spending may have slowed in December as those budget talks in Washington intensified. Congress and the White House didn't reach a deal to avert sharp tax increases until Jan. 1. And they delayed tougher decisions about spending cuts for another two months.Consumer confidence fell in both November and December, which may slow spending in December. Consumer spending drives roughly 70 percent of economic activity.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV