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
Related discussion:
- US November Consumer Borrowing Rises $12.3 Billion, Fed Says - Bloomberg
- Consumer Borrowing Rebounds in November - MSN Money
- Consumer
credit jumps at 6.2% rate in November -
MarketWatch - Consumer Borrowing Posts Bigger-Than-Expected November Increase - AP
