US consumer borrowing up as credit card use rises

[Omaha Steve]

Source: AP-Excite

By MARTIN CRUTSINGER

WASHINGTON (AP) - Americans increased their borrowing in May at the fastest pace in a year. Borrowing in the category that includes credit cards reached its highest point since the fall of 2010.

Increased borrowing typically means that consumers are feeling more confident.

Americans stepped up their borrowing by $19.6 billion in May compared with April, the Federal Reserve said Monday in its monthly report on consumer credit. That was the biggest jump since a $19.9 billion rise in May 2012.

Total borrowing reached a record $2.84 trillion.

FULL story at link.


Read more: pnews.excite.com/article/20130708/DA7DIBFO0.html

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In this Wednesday, May 15, 2013 photo, customers browse through the Look Boutique at the Walgreens flagship store in the Empire State Building, in New York. Americans stepped up their borrowing by $19.6 billion in May compared with April, the Federal Reserve said Monday, July 8, 2013, in its monthly report on consumer credit. That was the biggest jump since a $19.9 billion rise in May 2012. (AP Photo/Mark Lennihan)

[Javaman]

1. "Increased borrowing typically means that consumers are feeling more confident. "

or they are being squeezed more and have to put more on the credit card to make ends meet.

[Cal Carpenter]

2. My thoughts exactly n/t