...The U.S. economy shows signs of continued weakening as the unemployment rate increased and consumer confidence remained low. While consumer co nfidence is not strong with regard to the present situation, retail sales are up and usage of revolving credit continues to grow. Bankruptcies continue to increase gradually, while credit card delinquencies have been increasing at a faster pace. Fitch Ratings continues to expect declining asset performance fo r the credit card sector mainly due to higher delinquencies, higher chargeoffs, and slower monthly payment rates. Seasonally adjusted unemployment ro se to #.#% in March ####, from a two-year high in December of #.#%, due to losses in construction, manufacturing, and employment services. The first-quarter average was #.#% in ####, compared with #.#% in ####; however, the trend line over the past year has climbed at a steady pace. Year over year, the number of people who worked part time for economic reasons rose by almost ##%,...
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