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U.S. Consumer Credit Increased in November

By Sarah Chaney

WASHINGTON--Americans increased their borrowing at a slower pace in November, the Federal Reserve said Wednesday. Here are some key details from the report:

--Outstanding consumer credit, a measure of debt excluding loans secured by real estate, rose at a 3.61% seasonally adjusted annual rate in November. That compares with a 5.49% annual growth rate in October.

--The total amount of consumer credit rose $12.51 billion in November from the previous month. Economists surveyed by The Wall Street Journal had expected a $15.5 billion increase.

--Consumer credit rose a revised $18.98 billion in October from September, the Fed said.

--Revolving credit outstanding, which is made up mostly of credit card debt, declined at a 2.68% seasonally adjusted annual rate in November.

--Nonrevolving credit outstanding, made up mostly of auto and student loans, increased at a 5.83% annual rate in November.

Write to Sarah Chaney at sarah.chaney@wsj.com

 

(END) Dow Jones Newswires

January 08, 2020 15:15 ET (20:15 GMT)

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