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Tags: consumers | borrowing | economy

Consumer Borrowing Falls Sharply, Jitters Remain

Thursday, 08 July 2010 03:38 PM

Consumer borrowing fell again in May, more evidence that Americans remain jittery over their finances and the durability of the economic recovery.

The Federal Reserve says borrowing dropped by $9.1 billion in May. It also says borrowing declined by $14.9 billion in April, revising an initial estimate that showed a gain for the month.

Consumer borrowing has fallen in 15 of the past 16 months as households have struggled with uncertain job prospects and battered finances following a deep recession.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
Consumer borrowing fell again in May, more evidence that Americans remainjittery over their finances and the durability of theeconomic recovery.The Federal Reserve saysborrowing dropped by $9.1 billion in May. It also says borrowing declined by$14.9 billion in April,...
consumers,borrowing,economy
80
2010-38-08
Thursday, 08 July 2010 03:38 PM
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