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From Times Staff and Wire Reports
Consumer Borrowing Up: December holiday shopping helped fuel a late-year surge in credit expansion, and consumer borrowing climbed at an 11.2% annual rate that month, following a revised 10.7% increase in November, according to the Federal Reserve Board. The November increase was originally estimated at 10.6%. The increase, the seventh in a row, brought outstanding debt to a seasonally adjusted annual rate of $789.8 billion.
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