WASHINGTON - Consumer borrowing rose $5.1 billion in May to a seasonally adjusted total of $2.432.2 trillion, the Federal Reserve reported Friday, up from a $2.427.1 trillion revised April credit total.
The increase translates into a 2.5% annual growth rate for household borrowing.
The median Thomson Reuters economists' prediction was for $5.5 billion in credit growth.
Revolving credit rose to $793.1 billion from $789.8 billion in April. Non-revolving credit went up to $1.639.1trilion from $1.637.3 trillion.
Consumer credit cards make up most of revolving debt. Loans with fixed pay-off dates, including for autos, mobile homes, education and boats make up non-revolving credit.
The Fed's monthly consumer credit numbers exclude any loans related to real estate.
