Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Equifax Inc.    EFX   US2944291051

EQUIFAX INC. (EFX)

3
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Equifax : Consumer Debt Rises in Majority of Top Metro Markets

12/18/2014 | 05:10am US/Eastern

By a News Reporter-Staff News Editor at Investment Weekly News -- Fueled by a stronger economy and improved housing market, many of the nation's largest metro areas experienced increases in total consumer debt during the third quarter, according to the latest Equifax (NYSE: EFX) National Consumer Credit Trends Report.

http://photos.prnewswire.com/prnvar/20060224/CLF037LOGO

Of the nation's top 25 metro markets, 17 posted increases in total consumer debt in the third quarter compared to the same period a year earlier. Houston (+6.5 percent), Denver (+4.3 percent) and Dallas (+4.1 percent) easily outpaced the other cities. Also in the top five in terms of growth were Phoenix (+2.2 percent) and Boston (+1.6 percent).

Several of the pacesetting cities reported large increases due, in part, to growth in their labor force, defined as the total adult population employed or looking for work. Houston, for example, had more than double the increase in year over year labor force growth than the rest of the U.S. as of the end of the third quarter (4.3 percent vs. 2.0 percent). Additionally, each of the top 5 metro areas - with the exception of Phoenix - have unemployment rates significantly below the U.S. average.

"In general, it appears the economies of many of the largest metro areas are doing well and those cities are growing again," said Trey Loughran, president of Equifax Personal Solutions. "People are finding and keeping their jobs, which in turn allows them to feel confident enough to use credit to buy a home, a car, or new furniture."

Three Florida markets, Miami (-3.3 percent), Tampa (-1.1 percent) and Orlando (-0.29 percent), witnessed declines in borrowing in the third quarter. Joining them with negative numbers were the Midwest cities of Cleveland (-0.84 percent), Detroit (-0.70 percent) and Chicago (-0.54 percent), along with Philadelphia (-0.52 percent) and Las Vegas (-0.13 percent).

These cities saw a decrease in overall debt because of a drop in mortgage debt. However, every one of the top 25 metro markets saw positive growth in auto, bank card and retail card debt.

"Areas such as Miami and Las Vegas are still feeling the effects of the housing market decline and consumers are slower to take on mortgage or home equity debt," said Loughran.

Consumer debt for the U.S. as a whole grew by nearly one percent year over year, from $9.82 trillion in the third quarter of 2013 to $9.91 trillion in 2014, according to the Equifax report. The consumer debt totals include lending for mortgages, autos, home equity loans, bankcards and retail.

Keywords for this news article include: Mortgage, Real Estate, Equifax Inc., Financial Companies, Finance and Investment, Credit Service Companies.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC

(c) 2014 NewsRx LLC

React to this article
Latest news on EQUIFAX INC.
1d ago EQUIFAX : Consumer Debt Rises in Majority of Top Metro Markets
2d ago EQUIFAX : Workforce Solutions Wins Gold in Brandon Hall Group's 2014 Excellence ..
4d ago EQUIFAX : Reports Improvement in Balance and Write-Off Performances Headed into ..
5d ago EQUIFAX : Detroit Free Press Susan Tompor column
12/10 EQUIFAX : Consumer Debt Rises in Majority of Top Metro Markets
12/09 EQUIFAX : To Present At Bernstein Technology Innovation Summit
12/08 EQUIFAX : to Present at Barclays Global Technology Conference
12/04 EQUIFAX : Workforce Solutions to Explore 2015 Compliance Needs in Upcoming Webin..
12/03 EQUIFAX : Canada : Reports Consumer Debt Grows to Over $1.5 Trillion
12/02 EQUIFAX : To Visit Investors In Kansas City And Chicago
Advertisement
Chart
Duration : Period :
Equifax Inc. Technical Analysis Chart | EFX | US2944291051 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF