ECONOMY

Consumer Borrowing Surges: Consumer borrowing in October shot up at the fastest rate in nearly six years, led by a big increase in the number of auto loans, the government said. Americans increased their borrowing at a 12.7% annual rate, bringing their outstanding debt to a seasonally adjusted $776.7 billion, the Federal Reserve said. The latest borrowing increase followed advances at annual rates of 9.6% in September and 8% in August. By category, the number of auto loans in October rose at a 17.5% annual rate. Revolving credit, which includes credit card accounts, rose at a 13.8% annual rate; other consumer loans rose at a 5.4% rate.