Economics
Consumer Debt in U.S. Surges by a Record $40 Billion
- Figure was nearly double that of median estimate in survey
- Jump shows rise in credit-card balances, non-revolving loans
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
U.S. consumer borrowing surged in November by the most on record, reflecting outsize increases in credit-card balances and non-revolving loans.