ECONOMY: Consumer borrowing jumps in August
Consumer borrowing increased at a solid pace in August, helped by the biggest jump in auto and student loans in three years. Total credit rose $17.9 billion after a $23 billion increase in July, the Federal Reserve reported Monday. The August strength came from a $19.8 billion increase in the category that covers auto and student loans. It was the biggest monthly advance since August 2016. That strong gain offset a $1.9 billion drop in the category that covers credit cards.