"After a surprising slump in the use of revolving debt in September, when US consumers unexpectedly paid down a total of $310 million on their credit cards, moments ago, the Fed reported that in October, consumer credit posted a huge rebound, rising by $25.4 billion, above the $15.0 billion expected, the highest one month jump since last November.
The surge in borrowing in October brought the total to $3.963 TRILLION, a 7.7% annualized increase from a year ago, and a new all time high, largely on the back of a newfound love with credit cards."
https://www.zerohedge.com/news/2018-...rd-usage-soars
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US consumer credit hits all time high...
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