Consumer spending may be up, but so is household debt, a new report from the New York Fed shows
1. Household debt reached $18.39 trillion, indicating rising financial strain. 2. 4.4% of household debt faces delinquency, described as 'elevated' by the Fed. 3. Consumer spending rose 0.3% in June, despite mixed economic signals. 4. Weakening job growth contrasts with a strong stock market performance. 5. Subprime borrowers are increasingly distressed as their share of loans rises.