Consumer borrowing rises slightly in April, only second gain in the past 15 months

Consumer borrowing up slightly in April

WASHINGTON — Consumer borrowing increased slightly in April, a sign that Americans may have more faith in the recovery.

The Federal Reserve says that borrowing rose by $954.8 million in April. But the government revised away a gain it had originally reported for March. Instead, it reported that credit fell a sharp $5.44 billion during that month.

The April increase, if it stands, would be only the second advance in the past 15 months. Economists are hoping that at some point soon households will feel confident enough to start borrowing again to finance purchases. That development is seen as crucial for a sustained recovery.