The Housing Chronicles Blog: Consumer borrowing picked up in May at fastest rate in six months

Tuesday, July 10, 2018

Consumer borrowing picked up in May at fastest rate in six months


Consumer borrowing picked up in May, with total consumer credit increasing at an annual growth rate of 7.6%, which is the fastest pace of credit growth since November.   Most of this was due to revolving credit, like credit cards, which rose by 11.4% in May, and indicating consumers are willing to increase their spending after a slow first quarter of the year.


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