WASHINGTON— Americans increased their borrowing by a solid amount in September. But the gain was less than half the big August surge as borrowing in the category that includes credit cards fell.
Consumer borrowing rose by a seasonally adjusted $10.9 billion following a jump of $22.9 billion in August, the Federal Reserve reported Wednesday. The August gain had been the strongest increase in nine months.
The September advance was below economists’ expectations for a $16.5 billion gain.