Economic Report Summary: Rising Credit Card Debt, Robust December Retail

Rising credit card debt and robust retail sales for December highlighted the data - this will likely stoke new inflation fears in the weeks ahead.

For the week, the S&P 500 Index fell rose 1.6 percent to 1,431 and the yield of the 10-year U.S. Treasury note rose 13 basis points to 4.77 percent.

Consumer Credit: Credit card debt soared in November contributing to the $8.7 billion rise in revolving credit. After falling $1.3 billion in October, overall consumer credit rose $12.4 billion in November, likely an indication that consumers were feeling confident enough during the early holiday season to continue spending, using credit cards to fund purchases as home equity withdrawal wanes. Nonrevolving credit for purposes such as auto loans rose $3.7 billion.

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