econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 23 January 2017

Consumer Debt Growth May Have Stalled In Q3

from the St Louis Fed

The growth of per capita consumer debt appears to have stalled in the United States. After an extended period of growth, real per capita consumer debt slipped 0.1 percent in the third quarter, according to the latest issue of The Quarterly Debt Monitor.

Don Schlagenhauf, chief economist for the St. Louis Fed’s Center for Household Financial Stability, and Lowell Ricketts, the Center’s senior analyst, analyzed consumer credit data and found that a decline in housing-related debt offset growth in other types of consumer debt during the third quarter.

“The latest data suggest that overall growth may have stalled, despite robust student and auto loan borrowing," Schlagenhauf and Ricketts wrote.

Changes in Debt Levels

Per capita mortgage debt fell 1.7 percent in the third quarter, while home equity lines of credit dropped 2.9 percent. Other types of consumer debt continued to expand in the third quarter, but only student debt saw a stronger pace of growth compared to the second quarter of 2016:

  • Auto debt rose 6.2 percent in the third quarter, a slower pace than the 8.3 percent gain in the second quarter.

  • Credit card debt increased 0.7 percent in the third quarter versus 1.9 percent in the second quarter.

  • Student debt surged 6.7 percent in the third quarter versus 3.9 percent in the second quarter.

Debt Levels within the Eighth District

Schlagenhauf and Ricketts also looked at how consumer debt levels changed in the four largest metropolitan statistical areas (MSAs) in the Eighth Federal Reserve District.1 The Louisville, Ky., and St. Louis MSAs nearly matched the national figure during the third quarter: Overall per capita debt was unchanged in Louisville and edged up 0.1 percent in St. Louis.

However, per capita debt grew 1.4 percent in the Little Rock, Ark., MSA as the decline in mortgage debt was more than offset by strong growth in all other types of consumer debt, including home equity lines of credit. Per capita debt rose 0.4 percent in the Memphis, Tenn., MSA.

Notes and References

1 The Eighth District is headquartered in St. Louis and includes all of Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.

Additional Resources

Source

https://www.stlouisfed.org/on-the-economy/2017/january/consumer-debt-growth-may-have-stalled-q3

Disclaimer

Views expressed are not necessarily those of the Federal Reserve Bank of St. Louis or of the Federal Reserve System.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Contributors


search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Slow Economic Growth Will Be Around For A Long Time
The Job Guarantee, Wage-Price Inflation And Alternative Solutions: Part 2
News Blog
NASA Precise Landing Technologies Tested On Vertical Testbed Rocket
March 2017 Conference Board Consumer Confidence Highest Since 2000
Richmond Fed Manufacturing Survey Again Improves In March 2017.
Case-Shiller 20 City Home Price Index January 2017 Shows 5.7 % Year-over-Year Growth
A Changing Rulebook To Tame The New Global Arms Race
Infographic Of The Day: Chart: Understanding Alphabet's 4 Billion Dollar In "Other Bets"
Early Headlines: Asia Stocks And Dollar Up, Oil, Gold Steady, Obama Climate Policies Gone, US Oil Glut, Euro Surges, Shorts Remain, Trump Into Yemen?, Iran-Russia Deals, Cat 4 Cyclone Hits Oz, And More
March 27, 2017 Weather and Climate Report - Will the MJO Deliver a Nino?
The Most Reputable Companies Worldwide
Gut Bacteria Play A Role In Long-term Weight Gain
What We Read Today 27 March 2017 - Special Public Edition
Is Less More In The Smartphone Market
Average Gasoline Prices for Week Ending 27 March 2017 Statistically Unchanged - Again
Investing Blog
The Dollar's Coming Impact On Markets
The Real 401k Plan Manager 27 March 2017
Opinion Blog
Macron May Lead But Le Pen Remains The Big Story
Is The 20th Century Still The 'Hayek Century'?
Precious Metals Blog
These Gold Stocks Will Produce Much Bigger Gains Than Gold Itself
Live Markets
28Mar2017 Market Update: Wall Street Ends 8 Day Losing Streak, DOW Up Triple Digits After Strong Consumer Confidence Number, US Dollar Climbs Higher, Energy Up 1%
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government































 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved