Consumer spending in US remains below expectations

WASHINGTON – Consumers increased their borrowing $13.8 billion in June from May to a seasonally adjusted $2.85 trillion, the highest level ever, the Federal Reserve said Wednesday in its monthly report on consumer credit. The category that includes credit card use dropped $2.7 billion in June. That follows a gain of $6.4 billion in May, the largest in a year. Still, overall credit card …

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