Consumer debt rose in November

Jan. 8, 2014 at 5:44 PM

WASHINGTON, Jan. 8 (UPI) -- U.S. consumer credit rose 4.75 percent on a seasonally adjusted annual basis in November, the Federal Reserve said Wednesday.

Revolving debt -- generally credit-card debt -- rose 0.5 percent, while non-revolving loans, typically mortgages and car loans, rose at an annual rate of 6.5 percent.

Consumer debt climbed to $3.087 trillion, the Fed said.

Non-revolving debt rose to $2.23 trillion, the Fed said. Revolving debt climbed to $856.9 billion.

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