Tell-Tale Stat: Credit Card Debt Rises for First Time Since August 2008

Filed under: Forecasts, Economic Data, Federal Reserve

The past week's datapoint-of-consequence for investors had to be the December 2010 consumer credit report, which indicated that credit card debt increased for the first time in more than two years.

Revolving debt, which includes credit cards, increased by $2.3 billion in December, or at a 3.5% annualized rate, the U.S Federal Reserve said. It was the first monthly increase in credit card use since August 2008.

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Tell-Tale Stat: Credit Card Debt Rises for First Time Since August 2008 originally appeared on BloggingStocks on Sun, 13 Feb 2011 10:10:00 EST. Please see our terms for use of feeds.

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