American consumer borrowing increased significantly for the second consecutive month, marking the largest two-month increase since 2022.

Zhitong Finance APP learned that in April, consumer borrowing in the United States saw strong growth once again, marking the largest consecutive increase since the end of 2022. Data released by the Federal Reserve on Friday showed that total outstanding consumer credit in the United States increased by $20.7 billion in April, with economists expecting a median increase of $17.7 billion; the revised increase for March was $22.2 billion. Non-revolving credit, including auto loans and education loans, increased by $9.1 billion in April. Credit card debt and other revolving credit balances increased by $11.6 billion. The report does not include mortgage loans.