According to a report published by the Federal Reserve on Thursday, US consumer debt rose at the end of 2012 for the first time in four years. The rise of 0.3 percent in consumer debt brought the total debt to $11.34 trillion, and served as an indicator of a rebound for the nation’s economy. Other indicators of a potential US economic recovery are a decrease in US claims for jobless benefits that was reported last week, and a sharp increase in factory productivity in the Midwest.
Thursday also saw the euro decline against the dollar, closing at $1.3062, a weakening of 0.57 percent for the day, though slightly above the pair’s low for the day. Gold prices closed the month of February yesterday with a decline for the fifth straight month, with spot gold falling 1.1 percent to $1,578.86 per ounce. Asian stocks rose on beliefs that the Bank of Japan will add to monetary easing to counteract deflation. In China, reports showed that the country’s manufacturing slowed dramatically in February, worrying investors that the country’s economic recovery may be faltering.