Consumers slammed on brakes on borrowing in December, Fed information reveals

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The numbers: Total shopper credit score rose $1.5 billion in December, down from a $23.4 billion achieve within the prior month, the Federal Reserve mentioned Wednesday. That interprets right into a 0.4% annual fee, down from a 5.7% rise within the prior month.

Economists had been anticipating a $15 billion achieve, in line with the Wall Street Journal forecast.