Our College, Mortgage Debt Is Falling, But We Still Need New Cars
NEW YORK (TheStreet) -- Consumer sentiment softened a bit last month, but Main Street America's outlook on the economy is still light years better than during the last half of 2013.
According to TradingEconomics.com, U.S. consumer sentiment slid from 82.5 in December to 81.2 last month. But those levels are way ahead of the mid-70s levels seen in September, October and November.
Maybe that relatively seesaw outlook from Americans can explain why consumer debt levels were in retreat last year.
Manilla, the New York City digital mailbox services provider, says overall U.S. consumer debt fell by 4%.says new vehicle sales were up 11% last year -- the average U.S. auto loan debt rose 9% over the same time. The takeaway? Americans have historically had a strong attachment with their cars and trucks. It's one loan debt they don't seem to mind, even as they take more aggressive steps to paying down other big-ticket debt items.
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