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US consumer borrowing up $17.9 billion in August

“Consumer borrowing is closely watched for signs it can provide about the strength of consumer spending” writes The Associated Press for seattletimes.com. The consumer borrowing report showed that the $1.9 billion drop in credit card use in August was that category’s weakest performance since a $2.8 billion decline in March.The August changes left total U.S. consumer borrowing at a new high of $4.14 trillion.Total credit rose $17.9 billion after a $23 billion increase in July, the Federal Reserve reported Monday.WASHINGTON (AP) — Consumer borrowing increased at a solid pace in August, helped by the biggest jump in auto and student loans in three years.
 
Source: seattletimes.com



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