Consumer Borrowing Slows

According to the federal reserve, consumer borrowing slowed for the first time in 13 years taking debt to an annual level of $2.161 trillion, down from an all-time high of $2.164 trillion.
Apparently Americans personal savings rate also dived into the negative at -0.5% for the first time since 1933. Analysts are saying that consumers are feeling the heavy weight of record debt combined with higher interest rates from the federal reserve which are contributing to the slowdown.
Borrowing grows at slowest pace in 13 years
"The government said that borrowing on credit cards, auto loans and other forms of consumer debt rose by 3 percent in 2005, down from rates above 4 percent in the previous three years and a 7.7 percent surge in 2001. It was the smallest increase since a 1 percent rise in 1992." MSNBC
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