New York Fed sees signs of trouble in auto borrowing

Overall borrowing levels in the U.S. rose modestly during the final three months of last year as more types of borrowing ran into trouble, especially on the auto front, even as overall difficulties remain below levels seen before the onset of the COVID-19 pandemic. Total household debt rose by $212 billion in the fourth quarter of 2023 to $17.5 trillion, the New York Federal Reserve said on Tuesday in its latest quarterly Household Debt and Credit Report. Amid the rise in debt, delinquency rates and the transition into troubled status were both higher. The New York Fed said 3.1 percent of outstanding debt was in some type of delinquency, up one-tenth of a percentage point fr...Keep on reading: New York Fed sees signs of trouble in auto borrowing

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