Consumer Credit Soars Most On Record As Credit Card Borrowings Explode

ZERO HEDGE

The American consumer is making a triumphal return.

After several months of subdued increases in consumer credit, moments ago the Fed reported that in May, total consumer credit surged by the most on record, soaring by $35.28 billion, nearly double the consensus estimate of $18 billion and sharply higher from last months' $20.04 billion.

The monthly increase was a whopping 10% SAAR, pushing the total to a new record high of $4.279 trillion.

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