WASHINGTON (MarketWatch)
U.S. consumers increased their debt in November by a seasonally adjusted $20.4 billion, the largest increase since November 2001, the Federal Reserve reported Monday.
Monthly debt rose at a 10% annual rate in November, a much faster pace than had been expected by Wall Street economists.
All types of credit gained in the month.
The non-revolving category of debt, such as auto loans, personal loans, and student loans, rose $14.8 billion, or 10.7%, in November.
Credit card debt jumped by $5.6 million, or 8.5%, in the month.
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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
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