U.S. consumer borrowing swelled in July by the most since late 2017 as Americans carried larger credit-card balances to fund both everyday and online purchases, Bloomberg News reported. Total credit rose by $23.3 billion from the prior month, exceeding all estimates in a Bloomberg survey of economists, Federal Reserve figures showed on Monday. Revolving debt outstanding increased by $10 billion, also the most since November 2017, while the growth of non-revolving credit was little changed from a month earlier. The gain in revolving credit outstanding, which includes credit card debt, followed a $186 million drop in June. Non-revolving debt that includes loans for school and cars advanced $13.3 billion after rising $14 billion.
