US consumer borrowing up strong $16.6 billion in July

  • This June 10, 2015, file photo shows chip credit cards in Philadelphia. On Monday, Sept. 10, 2018, the Federal Reserve releases its July report on consumer borrowing. (AP Photo/Matt Rourke, File)

WASHINGTON — Americans increased their borrowing in July at nearly double the pace of the previous month, evidence that confident consumers are willing to take on more debt to support their spending.