WASHINGTON (AP) — Consumers increased their borrowing in June but at the slowest pace in 17 months as auto and student loans registered the slowest growth in nearly five years.
The slowdown in borrowing came from a big decrease in the growth of auto and student loans, which rose by just $4.6 billion in June, the weakest monthly performance since this loan category declined in August 2011.
The Fed's consumer borrowing report does not cover home mortgages or other loans, such as home equity loans, that are secured by real estate.
