US consumer borrowing surged in May as economy reopened
By MARTIN CRUTSINGER, AP Economics Writer WASHINGTON (AP) — U.S. consumer borrowing surged by a larger-than-expected $35.3 billion in May as Americans, bolstered by a reopening economy and rising job levels, went back to using credit in a big way. Borrowing on credit cards and for auto and student loans showed solid gains in May, the Federal Reserve reported Thursday. It marked the fourth straight