U.S. Consumer Borrowing Jumps at 6.2% in November

U.S. consumer borrowing in November rose at an annual rate of 6.2%, the biggest increase since a 6.8% rise in August, according to the Federal Reserve. 

The category revolving credit that includes credit card debt jumped 11.9% while the  category of nonrevolving debt, which covers auto loans, rose at a 3% rate in November.

Overall consumer credit, not including home mortgages, surged $12.3 billion to a record high of $2.39 trillion, with revolving credit at $872 billion and nonrevolving credit totaling $1.52 trillion.  

Source: Fed Release

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