US January consumer debt rises

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WASHINGTON (Thomson Financial) - Americans increased their borrowing in January, mostly in the form of credit cards and other revolving debt, the Federal Reserve said today.

Borrowing rose 6.9 bln usd in January to bring total consumer credit up to 2.525 trln usd, rising at an annual rate of 3.31 pct.

Economists polled by Thomson's IFR Markets had expected total consumer borrowing to rise by 7.3 bln usd in January.

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