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September 11, 2018

U.S. borrowing up $16.6B in July

WASHINGTON (AP) — Americans increased their borrowing in July at nearly double the pace of the previous month, evidence that confident consumers are willing to take on more debt to support their spending.

The Federal Reserve reports that consumer debt rose by a seasonally adjusted $16.6 billion in July, up sharply from a gain of $8.5 billion in June.

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