U.S. consumer debt rose less than estimated in June as revolving debt outstanding fell for the second time in four months, Federal Reserve figures showed yesterday, Bloomberg News reported. The drop in revolving debt, which includes credit cards, signals consumers took a breather after such borrowing in May jumped by the most in six months. Meanwhile, non-revolving debt, which includes loans for education and automobiles, remained robust, in part reflecting healthy demand for vehicles. The Fed’s consumer credit report doesn’t track debt secured by real estate, such as home equity lines of credit and home mortgages. The results are consistent with second-quarter data that showed household spending rebounded to the fastest pace of growth since 2014, after a weak start to the year.
