India, Oct. 13 -- US consumers and businesses are holding up despite high interest rates. Third-quarter results from JPMorgan Chase, Wells Fargo and Citigroup showed that the US economy remained resilient even as borrowing costs stayed high. Spending and lending continued to grow compared with the same period last year, while loan losses remained largely under control.

JPMorgan, Wells Fargo and Citigroup reported signs of continued consumer strength. Results from the three major US banks showed that customers continued to spend and borrow despite higher interest rates. Their credit data also showed that several measures of missed loan payments and credit card losses had improved compared with a year earlier, according to Yahoo Finance. ...