To the surprise of most economists, consumer credit saw a rise in January. Partially due to lenders offering incentives to potential debtors and policies which encourage borrowing being adopted by the United States government, independent borrowing increased by 1.2%, an early sign that things may be turning around for at least the borrowing aspect of the American economy.
However, excitement over the new statistic was short lived, as the unemployment rate rose by .5%, a stiff reminder that American economy, as well as that of many other nations still has a long way to go.
However, excitement over the new statistic was short lived, as the unemployment rate rose by .5%, a stiff reminder that American economy, as well as that of many other nations still has a long way to go.
