US consumer borrowing posts another strong showing in March

WASHINGTON (AP) — U.S. consumer borrowing rose by a strong $25.8 billion in March, the second-straight sizable monthly gain. The number released Friday by the Federal Reserve represents another indication that the U.S. economic recovery is gaining steam. The March increase followed an even larger $26.1 billion rise in February. The two increases were the biggest monthly gains since a $26.8 billion increase in December 2019 before the pandemic hit. The March borrowing advance reflected a $6.4 billion increase in the category that includes credit cards and a $19.4 billion rise in the category that covers auto loans and student loans.