US Consumer Borrowing Jumps on Surge in Credit-Card Balances
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US consumer borrowing increased in October by more than forecast, reflecting the largest advance in credit-card balances since mid-2022.
Total credit outstanding rose $19.2 billion after a revised $3.2 billion September increase, according to Federal Reserve data released Friday. The median estimate in a Bloomberg survey of economists called for a $10 billion gain. The figures aren’t adjusted for inflation.