Consumer borrowing rose in June as American households took out auto and student loans, Bloomberg News reported yesterday. The $17.3 billion increase in consumer credit followed a $19.6 billion May advance, the Federal Reserve reported yesterday. Non-revolving loans, including borrowing for cars and college tuition, climbed $16.3 billion. Federal government lending to consumers, comprising mainly educational loans, increased $5.4 billion in June from the prior month before adjusting for seasonal variations. Revolving credit, which includes credit card balances, rose $941.5 million, the smallest advance since February, after a $1.74 billion gain in May, today’s figures showed. The report doesn’t track mortgages, home-equity lines of credit and other debt secured by real estate.
