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Tuesday, July 8, 2014

Consumer Credit in U.S. Jumped in May as Auto Lending Picked Up

Consumer borrowing in the U.S. surged again in May as Americans took out more loans to purchase cars.

The $19.6 billion increase in credit followed a revised $26.1 billion gain in April, Federal Reserve figures showed today in Washington. Non-revolving lending, which includes auto and school loans, advanced by the most in a year.

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