WASHINGTON (AP) – Consumers ramped up their credit card spending in October.
Total consumer borrowing rose in October by a seasonally adjusted $18.9 billion, up from a September increase of $9.6 billion.
The biggest increase in borrowing in three months was driven by a jump in use of credit cards.
Consumer credit is closely watched for indications that people are willing to keep borrowing to finance their spending.
Consumer spending accounts for 70% of U.S. economic activity.