Washington â¢ American consumers increased their borrowing in May at the fastest pace in six months, reflecting a sharp rebound in the category that includes credit cards.
The Federal Reserve reported Monday that total consumer borrowing rose by $18.4 billion in May, the strongest gain since a $25.1 billion increase in November. In addition, Aprilâs gain of $8.2 billion, the weakest increase in nearly six years, was revised up to a more respectable increase of $12.9 billion.
Consumer borrowing is...
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