Consumer borrowing increased sharply in the month of December. According to a recent article from DailyFinance.com, credit card debt rose more than it had in the last eight months.
The rise in consumer borrowing even set a debt record.
Consumer borrowing expanded by $14.8 billion in December, pushing consumer debt to a record $3.31 trillion, the Federal Reserve reported Friday. In November, borrowing had climbed by $13.5 billion.
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