Bloomberg

U.S. Consumer Borrowing Jumped by Most on Record in May

(Bloomberg) — U.S. consumer credit surged in May by the most on record, reflecting a jump in non-revolving loans that underscores solid household spending.Total credit climbed $35.3 billion from the prior month after an upwardly revised $20 billion gain in April, Federal Reserve figures showed Thursday. On an annualized basis, borrowing rose 10% in May. Economists in a Bloomberg survey had called for a $18 billion gain.Non-revolving credit, which includes auto and school loans, increased $26.1

(Excerpt) Read more Here | 2021-07-08 13:44:36
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