US Consumer Borrowing up $16.2 Billion in September
Share
WASHINGTON — U.S. consumers increased their borrowing in September, helped by the first gain in the category that covers credit cards in seven months.
The Federal Reserve reported that total borrowing rose by $16.2 billion in September, rebounding after a drop of $6.9 billion in August.
The increase included a $3.98 billion increase in the category that includes credit cars, the first advance since February. Credit card use had fallen for six straight months as households cut back on use of credit cards once the pandemic hit and millions of people lost their jobs.
The category that covers auto loans and student loans increased by $12.2 billion in September. This category has been rising steadily since a $6.9 billion drop in April.
RELATED TOPICS:
Average Rate on a 30-Year Mortgage in the US Rises to Highest Level Since July
Housing /
4 hours ago
Cutting in Line? American Airlines’ New Boarding Tech Might Stop You at Now Over 100 Airports
Travel /
4 hours ago
MLB Will Test Robot Umpires at 13 Spring Training Ballparks Hosting 19 Teams
Sports /
5 hours ago
Jussie Smollett’s Conviction in 2019 Attack on Himself Is Overturned
Courts /
5 hours ago
Latest
Videos
Extra /
2 hours ago
North Korean Leader Says Past Diplomacy Only Confirmed US Hostility
Politics /
2 hours ago