U.S. consumer borrowing falls on smaller credit-card balances

Christel Deskins

U.S. consumer borrowing unexpectedly fell in August as credit-card balances declined for a sixth consecutive month with the coronavirus pandemic continuing to limit some purchases amid elevated unemployment. Total credit decreased US$7.2 billion from the prior month after an upwardly revised US$14.7 billion July gain, Federal Reserve figures showed Wednesday. […]