Contact Us
Make My Homepage

U.S. Consumer Borrowing Up $17.1-Billion in May

Americans stepped up their borrowing in May, helped by the largest monthly gain in credit card debt in more than four years. But overall credit card use is still well below where it was just before the Great Recession began.

Credit Cards
Joe Raedle, Getty Images

The Federal Reserve says consumer borrowing rose $17.1 billion in May from April.

A category that includes credit card debt increase $8 billion.

The brought the level for that measure to $870 billion, below the more than $1 trillion in debt that Americans took on before and shortly after the recession began.

Consumers cut back sharply on their credit card borrowing during the recession and have only been posting modest gains over the past year.

 

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

Best of NJ 101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://nj1015.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.