Consumers Take On More Debt in July
From Bloomberg News
U.S. consumer debt expanded in July as Americans took out loans to buy more cars, Federal Reserve statistics showed.
Borrowing through credit cards, auto loans and other non-mortgage personal debt increased 4.1%, or $6 billion, to $1.77 trillion, the Fed said. In June, consumer credit rose by a revised $151.3 million, or 0.1%.
