Borrowing

US Consumer Credit Up $18.4 Billion in May, Most in 6 months

Darryl Hood,
Posted:

by Darryl Hood

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 reports that total consumer borrowing rose by $18.4 billion in May, the strongest gain since a $25.1 billion increase in November. In addition, April’s gain of $8.2 billion, the weakest increase in…

US Consumer Borrowing Growth Slows in January

Darryl Hood,
Posted:

by Darryl Hood

WASHINGTON (AP) – U.S. consumers bumped up their borrowing in January at the slowest rate pace in nearly three years, as outstanding revolving debt – such as credit cards – slipped from December. The Federal Reserve says borrowing rose $10.5 billion in January, an annual increase of just 3.58 percent. That marks the smallest gain since February 2013. Total borrowing…