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Economics

U.S. Consumer Credit Rose Most in 11 Months in October

Inside A Wal-Mart Stores Inc. Location Ahead Of Black Friday
Photographer: Patrick T. Fallon/Bloomberg

U.S. consumer debt rose in October by the most in almost a year and topped estimates, indicating Americans were stepping up borrowing to finance purchases.

Total credit rose $25.4 billion from the prior month, exceeding the median estimate of economists for a $15 billion increase, following an upwardly revised $11.6 billion gain in September, Federal Reserve figures showed Friday. Credit-card and other revolving debt rose by the most in 11 months and non-revolving credit also increased.