WKYT | Lexington, Kentucky | News, Weather, Sports

US consumer debt rises on more car, school loans

WASHINGTON (AP) - Americans borrowed more to buy cars and attend school in November, gains that pushed consumer debt to an all-time high.

The Federal Reserve says consumers increased their borrowing by $16 billion in November compared with October. Total borrowing rose to a record $2.77 trillion.

Borrowing in the category that covers autos and student loans increased $15.2 billion. Credit card debt rose just $817 million.

Consumer spending rebounding in November, helped by lower gas prices and solid job growth that carried over into December. Employers added 155,000 jobs in December and 161,000 in November.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 186065412