Consumer Borrowing Soared in November

Americans increased their borrowing in November by the largest amount in a decade, the Federal Reserve said Monday.

Consumers took out more loans to buy cars and used their credit cards more to buy holiday gifts, a sign to some analysts of their growing confidence in the economy.

The Federal Reserve said total consumer borrowing rose $20.4 billion in November, the largest increase since a $28 billion gain in November 2001.

A category that measures credit card debt rose $5.6 billion, the most since March 2008.

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