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Consumer Credit Rises in April Elevates Recovery Hopes
The Fed reports April consumer credit up by 1.18 billion, led by auto and durable goods borrowing, signaling easing recession fears. Auto-loan debt rose 233 million as car sales rose to a three year high, while steel industry capacity slid to 42.5 percent amid extended Mine shutdowns.
MENTIONED IN THIS ARTICLE
Steven P. Rosenfeld
Federal Reserve Board
Fed
Robert Ortner
Commerce Department
Reserve Mining Co
Silver Bay
Minn
Matthew Banovitz
American Iron and Steel Institute
Ortner