Consumer Credit in U.S. Fell $1.3 Billion in June
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Consumer credit in the U.S. declined in June for a fifth straight month, a sign an uneven labor market is discouraging borrowing.
The $1.3 billion decrease in credit followed a revised $5.3 billion drop in May, the Federal Reserve said today in Washington. Economists projected a $5.3 billion decline in the measure of credit-card debt and non-revolving loans for June, according to the median forecast in a Bloomberg News survey.