Patrick T. Fallon/Bloomberg News
Consumer borrowing in the United States rose in April as Americans boosted credit card use by the most since November 2007.
The $26.8 billion surge in total credit exceeded the highest estimate in a Bloomberg News survey and followed a $19.5 billion gain in March, the Federal Reserve reported.
The median forecast of economists called for a $15 billion advance. Revolving lending, which includes credit cards, jumped $8.8 billion.
More job gains and increases in stock and home values are giving consumers the confidence to borrow after years of drawing down debt. Further wage growth would provide households the wherewithal to take out loans for big-ticket purchases such as new cars and help propel higher sales at retailers.