US consumer borrowing rises to record $2.75T in October, helped by more credit card debt

Canadian Press, The Canadian Press
0 Comments| December 7, 2012


WASHINGTON - Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high.

The Federal Reserve says consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.

© The Canadian Press, 2005


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