This is partly due to increased use of credit cards, resulting in higher consumer borrowing. This
has offset slower growth figures in auto and student loans.

Consumer borrowing rose by $14 billion, the Federal Reserve recently reported.
It is believed that improvements in the labour market will boost consumer confidence, resulting
in households taking on more debt to make purchases.

The student and auto loan category recorded the smallest monthly gains in about three years, but
experts believe this slowdown was mostly from student loans as car sales have been going strong
in the last few months.