News Column

Consumer Credit Rose in November

January 8, 2014

UPI Business News

hispanic man shopping
Consumer borrowing rose last month, the Fed said (file photo)

U.S. consumer credit rose 4.75 percent on a seasonally adjusted annual basis in November, the Federal Reserve said Wednesday.

Revolving debt -- generally credit-card debt -- rose 0.5 percent, while non-revolving loans, typically mortgages and car loans, rose at an annual rate of 6.5 percent.

Consumer debt climbed to $3.087 trillion, the Fed said.

Non-revolving debt rose to $2.23 trillion, the Fed said. Revolving debt climbed to $856.9 billion.

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Source: Copyright 2014 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.