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Economic Report: U.S. consumer credit surges again May to another record high

The numbers: The amount of credit consumers used in May rose by a sharp $22.3 billion, but it slowed from the breakneck pace in the prior three months.

Economists had expected a $30 billion increase, according to the Wall Street Journal forecast.

Borrowing rose at a 5.9% annual rate in May, down from 9.7% in April and 12.7% in March. Credit…

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