U.S. Consumer Credit Climbs At Seven-month High Rate Of 5.8%

U.S. consumer credit rose at a 5.8% clip, or by $18.4 billion, in May, the Federal Reserve said Monday. That's the fastest rate in seven month, and comes as revolving credit like credit cards jumped 8.7%. Nonrevolving credit, typically auto and student loans, rose 4.7%.

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