In brief: Wheat, grain groups join under alliance

Three wheat and barley groups in Eastern Washington have merged to form the Washington Grain Alliance.

The Washington Wheat Commission, the Washington Association of Wheat Growers and the Washington Barley Commission will now operate under a single executive committee.

Tom Mick, chief executive officer of the wheat commission, will serve as the new executive director of the alliance when the changes take effect July 1.

Whitman County wheat farmer Randy Suess, now chairman of the commission and temporary spokesperson for the alliance, said the goal is to present a unified voice for grain farmers on legislative and congressional issues.

The existing staffs of the organization will be reorganized later this year.

The move signals the end of the independent wheat growers association. The group already let go director of issues Gretchen Borck. The association’s membership has slipped to 1,500 farmers.

Suess said the change to the alliance is expected to boost membership and participation among wheat farmers.

WASHINGTON, D.C.

Borrowing increases but at slower pace

Consumers increased their borrowing in February at the slowest pace in four months.

The Federal Reserve reported Friday that consumer borrowing rose at an annual rate of just 1.5 percent in February. That was down from a 3.3 percent growth rate in January and marked the smallest increase since October.

The moderation in February was led by consumers borrowing less freely to finance cars, vacations, education and other so-called nonrevolving credit. Demand for such credit edged up at only a 0.4 percent pace. That was down sharply from January’s 4.2 percent growth rate.

Consumers, however, didn’t decrease credit card use. Use of revolving credit rose at a brisk pace of 3.4 percent in February. That was a big pickup from a 1.7 percent growth rate logged in January.

The slower overall growth in consumer borrowing comes as gasoline prices are rising, the housing market is still stuck in a slump and the stock market has experienced some turbulence.

Consumers are a major shaper of overall economic activity, and thus analysts monitor various barometers closely for clues about their willingness to spend. So far, consumers have been spending sufficiently to keep the economy moving ahead despite the painful housing slump. Economists attribute consumers’ resiliency to the fact that the jobs market is staying healthy and that workers’ paychecks are growing.

From staff and wire reports