Friday, April 8, 2016

Charge It!

One sign of a growing economy: Revolving credit outstanding, mostly credit cards, increased at a 3.74 percent annual pace in February. That same figure had actually contracted by 0.31 percent in January. Revolving credit has gone up in 11 of the past 12 months.

Increased levels of credit are considered a sign a sign that steady job creation is helping secure household finances. Overall borrowing by U.S. consumers also picked up a little in February; outstanding consumer credit rose by a seasonally adjusted $17.22 billion in February from the prior month.

This has turned into a longstanding trend almost from the end of the recession. Overall consumer credit has grown every month for the past four and a half years.

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