U.S. consumers shun credit cards in May, and borrowing cools

The numbers: Total U.S. consumer credit growth slowed to a $5.1 billion gain in May, down from a $16.9 billion rise in the prior month, the Federal Reserve said Tuesday. That translates to a 1.2% annual rate in May, down from a 4% rise in the prior month. The increase was much smaller than expected.