U.S. Credit Card Spending Declines for Two Consecutive Months
The Paragon Report Provides Stock Research on American Express and Discover
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/13/12 -- In the face of a high unemployment rate and concerns of a major slowdown in the global economy consumers have continued to cut back on borrowing. A recent reported released by the Federal Reserve have shown credit card spending in the U.S. has declined for two consecutive months. The Paragon Report examines investing opportunities in the Credit Services Industry and provides equity research on American Express Company (NYSE: AXP) and Discover Financial Services (NYSE: DFS).
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The report showed that total consumer borrowing in July declined 3.3 billion to a seasonally adjusted $2.705 trillion. After reaching an all-time high of $1.03 trillion, four years ago, credit card debt has declined 17 percent to $850.7 billion in July. During the same time student loan debt has soared from $1.56 trillion in to $1.85 trillion. A poor job market is most likely to blame for the sharp decline in borrowing as employers added only 96,000 jobs in August, a decrease from the 141,000 in July. The average during the first quarter of the year was 226,000 jobs a month.
Paragon Report releases regular market updates on the Credit Services Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
American Express is a global service company. Its principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses worldwide. The company was recently ranked the highest in customer satisfaction among U.S. credit card companies, according to the annual nationwide study by J.D. Power and Associates.
Discover Financial Services is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. The company and Russian Standard Bank (RSB) recently announced the availability of Discover cards in Russia. RSB became the exclusive partner in Russia on September 4th, 2012 at the official opening of the Diners Club branch in Moscow.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 13.09.2012 - 06:20 Uhr
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