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October 8, 2019

Consumer borrowing up $17.9B in August

  • Economists believe spending will remain strong for the rest of this year, aided by the lowest unemployment in a half-century.
    AP Economics Writer

    WASHINGTON — Consumer borrowing increased at a solid pace in August, helped by the biggest jump in auto and student loans in three years.

    Total credit rose $17.9 billion after a $23 billion increase in July, the Federal Reserve reported Monday.

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