Consumer credit accelerates in April to a five-month high

[McFurd]

MarketWatch - 6/7/2019 - Craig Robb - The numbers: Consumer borrowing accelerated in April at the fastest pace in five months, the Federal Reserve said Friday. Total consumer credit increased $17.5 billion in April, an annual growth rate of 5.2%. That’s up from a 3.3% rate in the prior month. Economists has been expecting a $13 billion gain, according to Econoday. What happened: Revolving credit, like credit cards, rebounded sharply in April, rising by 7.9% after a relatively rare drop of 2.3% in March. Nonrevolving credit, typically auto and student loans which don’t have as much volatility month-to-month, rose 4.2% after a 5.2% gain in March. Read more @ https://www.marketwatch.com/story/guid/ ... 377CB8CC30