The consumer credit in the United States increased at an annual rate of 8.2 percent in June following a revised decline of 0.7 percent in May, the US Federal Reserve (Fed) reported on Friday.

The report showed that loans on credit cards and other types of revolving credit increased by a rate of 11.5 percent in June after increasing at a much slower rate of 1.4 percent May.

Demand for non-revolving debt, a category that includes car loans and loans for boats and recreational vehicles, also increased at an annual rate of 6.2 percent in June, comparing with a declining of 2 percent in May.

The total US consumer credit increased to 2.1456 trillion dollars in June, a strong gain of 14.3 billion dollars compared with the previous month.

The consumer spending accounts for about two-thirds of the US economic activities and is the main force in pushing the economy forward. Analysts said that the strong gain of US consumer credit in June is a sign that US economy is increasing at a healthy pace in the middle of this year.

Source: Xinhua