US consumer borrowing increased in April by less than forecast as credit-card balances declined for the first time in three years. Total credit rose $6.4 billion after a downwardly revised $1.1 billion decrease in March, according to Federal Reserve data released Friday. The median forecast in a Bloomberg survey of economists called for a $10 billion increase. The figures aren’t adjusted for inflation. Revolving credit, which includes credit cards, fell $462 million. Non-revolving credit, such as loans for vehicle purchases and school tuition, increased $6.9 billion, the most since June 2023. Auto sales picked up in ... (full story)