US consumer spending surges in April

Published June 6, 2014 8:39pm ET



WASHINGTON (AP) — Consumers revved up their borrowing in April, with growth in credit card debt accelerating at the fastest pace in more than a dozen years.

Overall credit expanded by $26.8 billion during the month, up from an increase of $19.5 billion in March, the Federal Reserve said Friday. The sizable climb is an encouraging sign for the economy, suggesting that consumers are confident enough to boost purchases by borrowing.

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