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Analysts had hoped that consumers would step up spending and help drive faster economic growth in the final three months of the year. But a partial government shutdown in October lasted 16 days and left thousands of government workers temporarily without paychecks. That disruption is expected to hold back growth in the fourth quarter. Many economists believe the overall economy is growing at a rate just below 2 percent in this quarter, down from growth of 2.8 percent in the July-September quarter. The Fed's borrowing report tracks credit card debt, auto loans and student loans but not mortgages, home equity loans and other loans secured by real estate.
[Associated
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