U.S. consumer debt rose in November at a faster-than-estimated pace as Americans continued to borrow to finance purchases, Bloomberg News reported. Total credit rose $22.1 billion from the prior month, exceeding the median estimate of economists, following a downwardly revised $25 billion gain in October, Federal Reserve figures showed yesterday. Revolving credit outstanding, which includes credit card debt, increased $4.77 billion after a $9.34 billion rise the prior month. The figures show Americans borrowed somewhat more cautiously at the start of the holiday season. Non-revolving debt outstanding climbed $17.4 billion after rising $15.6 billion. Such debt, which includes loans for education and automobiles, may in part reflect industry data showing sales of vehicles remained steady in late 2018.
