Washington, D.C., United States (AHN) – Consumer borrowing in the United States rose in November by more than analysts had expected, fueled by purchases of cars and other items.

Spending rose by $20.4 billion to $2.48 trillion, which was the largest monthly increase since November 2001, according to the Federal Reserve.

That exceeded economists’ median estimate of $7 billion.

The data suggests that consumers are borrowing again, which could signal a recovery in the economy. Consumers had saved more and borrowed and spent less since 2007.

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