Americans may increase their lending in April this year, took out more loans and buying a car and go to school.
Economists predict consumer lending, an increase of 1.35 billion yuan in April from march, according to FactSet research. The fed will be released in eastern time on Friday afternoon 3 reports.
In march of this year, consumer increased their lending by $80 billion to a seasonally adjusted $2.81 trillion in February. Although this is a record high level of borrowing, the smallest increase in March 8 months. Almost all of the gain measurement of auto and student loans.
Almost no consumers to increase their credit card debt, continue to resist high interest debt, during the great depression began. Economists believe that consumers will continue to resist this year, as part of their plastic parts, because most of the higher social security taxes reduce the salary. They are also more cautious, because the employment growth, solid and steady, is still not strong enough to quickly lower unemployment.
As a result, many people went back to school and take loans to pay for their education.
Credit report don't drive a car loans, student loans. But according to data from the federal reserve bank of New York quarterly, student loan debt has been since the recession ended in June 2009 the biggest driver of borrowing. Student loans in the first three months of this year to $986 billion. This is from $67.5 billion, in the second quarter of 2009.
Consumers increase their consumption from January to march, with the fastest speed in more than two years. However, they have had to trim the pace of their savings to finance their purchases. After-tax incomes fell by 7.5%, in the first quarter on an annualised basis. This decline reflects part of the social security tax increases, will take effect on January 1.
A person earning $50000 a year, there will be about $1000, spend less this year. A family has two high-paid workers will drop below $4500.
Economists want to hire will remain solid and the federal spending cuts, tax increases and began on March 1.
From January to march quarter at an annual rate of 2.4%, the overall economic growth. Surprise, in the April to June quarter's growth is slowing down around 2%.
Lending to the federal reserve's report, cover car loans, student loans and credit CARDS. It does not include mortgages, home equity loans and other loans, and real estate.



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