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Archive Home > 2008 > December > 06 > Consumers reduce borrowing in October

Consumers reduce borrowing in October


December 6, 2008

U.S. consumers unexpectedly cut back on their borrowing in October as the economy sunk deeper into recession. The Federal Reserve reported Friday that consumer credit fell at an annual rate of 1.6 percent in October. That compared with a 3.1 percent growth rate logged in September, and marked....

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