US Consumer Borrowing Accelerated in December

February 5, 2016 8:10 PM

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U.S. consumers increased their borrowing at the fastest pace in three months in December. The result signals that consumer spending should remain strong in coming months.

The Federal Reserve says borrowing expanded $21.3 billion in December, the strongest showing since an increase of $28.6 billion in September. That pushed total borrowing to a fresh record of $3.55 trillion.

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