U.S. consumer borrowing cools on drop in credit-card balances

U.S. CONSUMER CREDIT increased $12.5 billion billion in November, despite outstanding balances on credit cards and other revolving debt declined by the most in eight months. / BLOOMBERG FILE PHOTO/DAVID PAUL MORRIS
U.S. CONSUMER CREDIT increased $12.5 billion billion in November, despite outstanding balances on credit cards and other revolving debt declined by the most in eight months. / BLOOMBERG FILE PHOTO/DAVID PAUL MORRIS
WASHINGTON – United States consumer borrowing increased less than forecast in November as outstanding balances on credit cards and other revolving debt declined by the most in eight months. Total credit rose $12.5 billion from the prior month, after a revised $19 billion gain in October that was the largest in three months, Federal Reserve…

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