Borrowing slowed in March

The Federal Reserve reported that consumer borrowing rose at an annual rate of 1.4% in March, down from 2.5% in February.

This is the result of less being charged to credit cards than in the past few months. (Last November, borrowing actually dropped.)

If this trends continues, it might be good news for consumers who have set themselves up with a scary amount of debt. However, it might be bad news for the economy since consumer spending drives the economy and consumer spending has been driven by borrowing.

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