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But she doesn't expect to see consumers running up huge credit card bills, like they did before the recession. She expects most of the debt to cover auto loans and student loans. The Conference Board reported last week that consumer confidence rose in February to the highest level in a year. And financial markets have started the year off strong
-- the Dow Jones industrial average closed above 13,000 on Feb. 28, the first time that has happened in nearly four years. But even with the gains in hiring, Americans are seeing little growth in pay. After paying taxes and adjusting for inflation, incomes actually dipped in January. And after adjusting for inflation, consumer spending was flat for a third straight month. The Federal Reserve's borrowing report covers auto loans, student loans and credit cards. It excludes mortgages, home equity loans and other loans tied to real estate.
[Associated
Press;
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