US consumer borrowing up $16.2 billion in September

US consumers increased ir borrowing in September, helped by first gain in category that covers credit cards in seven months. Federal Reserve reported that total borrowing rose by $16.2 billion in September, rebounding after a drop of $6.9 billion in August.

increase included a $3.98 billion increase in category that includes credit cars, first vance since February. Credit card use h fallen for six straight months as households cut back on use of credit cards once pandemic hit and millions of people lost ir jobs. category that covers auto loans and student loans increased by $12.2 billion in September. This category has been rising steily since a $6.9 billion drop in April.

(Im Credit: AP) 

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