WASHINGTON (MarketWatch)
U.S. consumers increased their debt in March by a
seasonally adjusted $21.3 billion, the Federal Reserve reported Monday
This is
the seventh straight monthly gain in consumer borrowing
The increase in March,
the largest since November 2001, was double the roughly $10 billion gain
expected by Wall Street economists
Most of the increase came from non-revolving
debt such as auto loans, personal loans and student loans-these three categories
combined for a $16.2 billion jump in March
Credit card debt rose by $5.1
billion in the month after a $2.3 billion decline in February
Consumer credit
increased at a 7.75% annual rate in the first quarter
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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
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