US Consumer Borrowing Restrained by Drop in Revolving Credit
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US consumer borrowing increased in April by less than forecast as credit-card balances declined for the first time in three years.
Total credit rose $6.4 billion after a downwardly revised $1.1 billion decrease in March, according to Federal Reserve data released Friday. The median forecast in a Bloomberg survey of economists called for a $10 billion increase. The figures aren’t adjusted for inflation.