Consumer Credit Jumps More Than Expected

WASHINGTON -- Consumers boosted their borrowing by a bigger-than-expected amount in June, reflecting another hefty jump in credit card debt.

The Federal Reserve reported Tuesday that consumer credit rose at an annual rate of 6.5 percent in June. It marked the second straight sizable gain. Consumer credit rose by an even larger 7.9 percent in May.

The increase was led by an 8.4 percent rate of increase for revolving credit, the category that includes credit card debt. The category that includes auto loans rose at a 5.3 percent rate, the same as the May increase.

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