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Alex Damianou
US Household debt

Households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances.

Total debt increased by 2.2% from the previous quarter and 8.3% from a year ago.

Debt has surged over the past year due to inflation running near its highest pace in more than 40 years and amid rising interest rates and strong consumer demand.

#economy #debt

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