CONSUMER BORROWING UP DEBT HIGHEST IN 16 MONTHS

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 8, 1993                   TAG: 9304080105
SECTION: BUSINESS                    PAGE: B10   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                LENGTH: Short
CONSUMER BORROWING UP DEBT HIGHEST IN 16 MONTHS
American consumers increased their borrowing for the sixth consecutive month in February, bringing their total debt to the highest level in 16 months, the government said Wednesday.
Consumer installment credit outstanding rose at a seasonally adjusted annual rate of 1.9 percent to $728.8 billion, the highest level since October 1991, the Federal Reserve said.
February's gain followed a 1.6 percent rise at an annual rate in January and a 5.3 percent rate advance in December, the best in two years.
The last decline in consumer credit came in August, which had marked the seventh consecutive drop.
During the recession, consumers reduced their borrowing and sought to pay down their debts. But over the past six months they have picked up the pace of both their spending and borrowing.
The Fed's consumer credit report includes all household debt not secured by real estate. It does not include home equity loans or mortgages.

by Bhavesh Jinadra by CNB