{"id":1926254,"date":"2023-05-07T17:12:39","date_gmt":"2023-05-07T21:12:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-borrowing-climbs-due-to-surge-in-credit-card-balances\/"},"modified":"2023-05-07T17:14:57","modified_gmt":"2023-05-07T21:14:57","slug":"consumer-borrowing-climbs-due-to-surge-in-credit-card-balances","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-borrowing-climbs-due-to-surge-in-credit-card-balances\/","title":{"rendered":"Credit card balances surge, leading to an increase in consumer borrowing."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fconsumer-borrowing-climbs-due-to-surge-in-credit-card-balances%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1926254&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>US Consumer Borrowing Surges in March<\/h2>\n<h3>Record Credit Card Balances<\/h3>\n<p>US consumer borrowing increased in March by more than expected on one of the largest spikes in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kevin-d-williamson-student-loan-forgiveness-proves-democrats-are-the-party-of-the-rich\/\" title=\"Kevin D. Williamson: Student Loan Forgiveness Proves Democrats Are the Party of the Rich\">credit-card balances<\/a> on record. Total credit increased $26.5 billion, the most in four months, after a February gain of $15 billion, Federal Reserve data showed Friday. The figure, which isn\u2019t adjusted for inflation, compared with the median estimate of a $17 billion increase in a Bloomberg survey of economists.<\/p>\n<ul>\n<li>Revolving credit outstanding, which <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-are-borrowing-more-than-ever\/\" title=\"Americans Are Borrowing More Than Ever\">includes credit cards<\/a>, jumped $17.6 billion, about three times the prior month\u2019s gain and the largest in a year.<\/li>\n<li>Non-revolving credit, such as loans for school tuition and vehicle purchases, rose $8.9 billion.<\/li>\n<\/ul>\n<p>While <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-borrowing-climbs-due-to-surge-in-credit-card-balances\/\" title=\"Credit card balances surge, leading to an increase in consumer borrowing.\">low unemployment continues<\/a> to be a key support for consumer spending, many Americans are beginning to pull back and save more. Others, however, are struggling to make ends meet \u2014 with some leaning on credit cards to do so.<\/p>\n<p>A recent poll by Morning Consult for Bloomberg News showed over half of Americans don\u2019t have the financial resources to cover a surprise $400 expense without taking on debt.<\/p>\n<p>The increase in non-revolving credit suggests that, at least at the consumer level, borrowing for big purchases is holding up in the face of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-has-a-cruel-winter-ahead-as-pandemic-debts-come-due\/\" title=\"Wall Street Has a Cruel Winter Ahead as Pandemic Debts Come Due\">tighter credit conditions<\/a>.<\/p>\n<p>The banking turmoil that has rattled markets and reinforced many economists\u2019 expectations of a recession later this year started in March with the failure of Silicon Valley Bank. Since then, two other American banks have failed, and concerns are mounting about the economic impact from tighter credit conditions.<\/p>\n<p><strong>With assistance from Jordan Yadoo and Alex Tanzi.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; US consumer borrowing increased in March by more than expected on one of the largest spikes in credit-card balances on record.Most Read from BloombergBuffett Reaffirms Abel as Heir, Blames Bank Leaders for FailuresJustice Thomas Ethics Review Questioned by US Court Leader in 2012Russia Says It Has Billions of Indian Rupees That It Can\u2019t<\/p>\n","protected":false},"author":1,"featured_media":1926255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[22095,26110,5137,3833,6178,5476,8540,4395],"class_list":["post-1926254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-balances","tag-borrowing","tag-card","tag-consumer","tag-credit","tag-increase","tag-leading","tag-surge"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1926254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1926254"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1926254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1926255"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1926254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1926254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1926254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}