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US consumers step up borrowing

WASHINGTON — U.S. consumers borrowed more on their credit cards and took out more student and auto loans in May, a modest sign of economic health.

The Federal Reserve said Monday that consumer borrowing increased 5%, just below April’s 5.2% rise. Total outstanding consumer debt stood at nearly $4.1 trillion in May.

Steady increases in consumer borrowing show consumers remain confident in the economy.

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