Sacramento’s consumer debt inches upward in third quarter

Overall consumer debt among Sacramento-area residents increased to slightly more than $92.1 billion in the third quarter of 2014, up nearly 1 percent compared with the year-ago period, according to Equifax, the Atlanta-based credit rating firm.

The Sacramento area’s 0.9 percent year-over-year increase was slightly less than the average gain of 0.97 percent among the nation’s top 25 metro markets.

Equifax said consumer debt for the U.S. grew to $9.91 trillion in this year’s third quarter, compared with $9.82 trillion in the year-ago period.

The New York City market had the largest debt accumulation, with about $865.5 billion; Los Angeles was second at about $813.9 billion.

“In general, it appears the economies of many of the largest metro areas are doing well, and those cities are growing again,” Trey Loughran, president of Equifax Personal Solutions, said in a statement. “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.”

This story was originally published December 22, 2014 at 4:00 AM with the headline "Sacramento’s consumer debt inches upward in third quarter."