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WASHINGTON — Americans increased borrowing by $7.6 billion in October, the second straight monthly gain, the Federal Reserve said.
September and October’s gains reversed a steep drop in borrowing from August, when it fell by the most in 16 months.
The October increase reflected a 5.3 percent increase in borrowing in the category that includes car and student loans, much of it federally funded. The category that covers credit-card purchases rose 0.6 percent, which matched September’s gain after a revision. The Associated Press
