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Consumer Credit in U.S. Rose in October by Most in Five Months
Consumer borrowing rose in October by the most in five months as credit-card use picked up and Americans took out more loans for car purchases and education. The $18.2 billion increase in credit followed a revised $16.3 billion gain in September that was more than initially reported, the Federal Reserve said today in Washington. The median forecast in a Bloomberg survey of economists called for a $14.5 billion advance. Credit-card borrowing rose by the most since May as job gains, income growth and rising household wealth gave Americans the confidence to borrow. Consumers also took out more non-revolving loans for ... (full story)
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