Consumer credit spikes in US

Americans boosted their levels of borrowing in September, data revealed last night, while separate figures suggested that the US economy remains too weak to combat its relatively high level of unemployment. The Conference Board index edged up to 101.92 from 101.20 in September yet the group’s statement said: “We think that the economy is simply not strong enough to deliver more than 125,000 jobs a month.” Consumer credit was up by $7.4bn in September, meanwhile.