March consumer credit use grew at 3.6 percent, slowest gain since September

Consumer credit in March grew at a seasonally adjusted annual rate of 3.6 percent to mark the slowest gain since September. Nonrevolving credit such as student and auto loans grew 6 percent, while revolving credit, namely credit cards, fell 3 percent, marking the second drop in a row.

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Consumer debt rose in June at a slower pace to record level

American consumers increased their borrowing at a slower pace in June, as the category that includes auto and student loans posted the smallest gain in a year.

Still, the June increase brought overall consumer credit -- not including mortgages or other debt secured by real estate, including home-equity loans -- to a fresh record of $3.86 trillion.

In addition, the total for the category of "revolving debt," primarily credit card balances also hit a new record high of $1.027 trillion.

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BuilderBytes' MetroIntelligence Economic Update for 2/22/12

Please click here to see the edition of BuilderBytes for 2/22/12 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Only 54% of Americans have more emergency savings than credit card debt
  
• Surging gas prices threaten economic recovery
  

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