Consumer Credit in U.S. Rose Less Than Forecast in October
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Consumer borrowing rose less than forecast in October as Americans tempered their credit-card use ahead of the holiday-shopping season.
The $13.2 billion gain in credit was the smallest in a year and followed a revised $15.4 billion advance in September, the Federal Reserve reported today in Washington. The median forecast in a Bloomberg survey of 33 economists called for a $16.5 billion increase.