US May consumer credit increases 4.9%, one and a half year new low

The US consumer credit in May recorded a one-and-a-half-year new low and the individual consumption also showed signs of slowing down. The Fed Reserve announced that the US consumer credit in May increased US$6.5 bln month-on-month and the annual increase rate of it in the month was 4.9%, the lowest level since October, 1999. Moreover, the increase digit of the consumer credit in April was also amended from US$13.9 bln to USS$13.7 bln. The decrease of the consumer credit indicated that the consumers were unwillingly to increase their liability over the continuous laying off and weak stock market.

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