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US Consumer Borrowing Rises More Than Forecast on Credit Card Use
- August total credit outstanding climbs more than $32 billion
- Revolving credit posts third-largest advance on record
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Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
US consumer borrowing rose in August by more than forecast as credit-card balances increased by the most in five months.
Total credit increased $32.2 billion from the prior month, Federal Reserve figures showed Friday. The median forecast in a Bloomberg survey of economists called for a $25 billion advance. The figures aren’t adjusted for inflation.