U.S. consumers step up credit card use

Consumer borrowing rose by $17.1 billion in May

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Consumer borrowing rose by $17.1 billion in May from April, the Federal Reserve said. (Credit: AP, 2012)

U.S. consumers put more on their credit cards in May than in any single month since shortly before the nation began sliding into what is now known as the Great Recession began.

But overall credit card use is still well below where it was just before the downturn. Economists say May's increase was likely a temporary response to weaker hiring and poor wage growth and not a sign of sustained...

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