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Wed Jan 9, 2013, 06:53 PM

 

US consumer borrowing up to record $2.77T November on more car, school loans

WASHINGTON U.S. consumers took on more debt in November to buy cars and attend school, but stayed cautious with their credit cards.

The Federal Reserve said Tuesday that consumers increased their borrowing in November by $16 billion from October to a seasonally adjusted record of $2.77 trillion.

Borrowing that covers autos and student loans increased $15.2 billion. A category that measures credit card debt rose just $817 million.

http://m.washingtonpost.com/politics/us-consumer-borrowing-up-to-record-277t-november-on-more-car-school-loans/2013/01/08/f69f7c08-59cf-11e2-b8b2-0d18a64c8dfa_story.html

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