economic stress

Consumer borrowing unexpectedly surges in March

Topix - Business News  Thu, 05/08/2008 - 15:29

Consumer borrowing rose in March at the fastest pace in four months, more than double the increase of the previous month, in what was seen as a sign of rising economic stress.

The Federal Reserve reported Wednesday that consumers increased their borrowing at an annual rate of 7.2 percent, compared with a 3.1 percent rate of increase in February.