Consumers Continue to Tighten Purse Strings, Reveals Fed Report
Borrowing among U.S. consumers fell for the fourth straight month in May, dipping by 4.5 percent, according to the Federal Reserve.
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Borrowing among U.S. consumers fell for the fourth straight month in May, dipping by 4.5 percent, according to the Federal Reserve.
Fear of the economy’s slow recovery, snow in the Eastern region of the country and a negative job report not only stalled February auto sales, but it also led to a three-month low in borrowing, according to the Federal Reserve’s February report.
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