SME Times is powered by   
Search News
Just in:   • Regulatory authorities need to highlight shady firms: SBI chief  • Singapore's non-oil domestic exports fall  • COWE achieves NIMSME partner institute status  • Not imposing export taxes on coal: S.Africa to India  • Infosys software deployed by Turkish Bank 
Last updated: 08 Aug, 2012  

USA.Thmb.jpg US consumer credit up 3 pc in June

USA.Resize.jpg
   Top Stories
» India, Japan to push trade, investment ties
» 'Govt willing to engage unions to curb inflation'
» India, EU conclude another round of BTIA negotiation
» Handicrafts exports soar 13 percent in April
» India, China to be biggest investors by 2030: World Bank
IANS | 08 Aug, 2012
US consumer credit increased at an annual rate of 3 percent in June, a positive sign of growing confidence in the economy, the Federal Reserve reported.

The US central bank Tuesday said that borrowing in June rose to a seasonally adjusted total of USD 2,577.4 billion from the revised figure of USD 2,570.9 billion in May, Xinhua reported.

The Fed said that demand for revolving credit, the category that includes credit cards, fell by 5.1 percent in June to USD 864.6 billion.

The borrowing in the non-revolving category, which includes auto loans, rose at an annual rate of 7.2 percent to USD 1712.8 billion.

Consumer spending, which is the main driver for growth, rose by 1.5 percent in the second quarter, a deceleration from a 2.4 percent gain in the first three months. The overall economic growth also slowed to 1.5 percent in the April-June quarter.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
55.30
54.35
UK Pound
84.50
82.50
Euro
71.80
70.00
Japanese Yen 54.40 53.00
As on 20 May, 2013
  Daily Poll
Do you think banks will lower lending rates after recent RBI rate cut?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(6)
» MSME schemes - Do you know all of them?(4)
» Export outlook not so grim(3)
» SMEs against local body tax imposed by Maharashtra govt.(3)
» Golden fibre making inroads into road construction(3)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter