Summary Box: Consumers cut back on credit in June

By The Associated Press

CONSUMER CREDIT: Consumer borrowing fell for a fifth straight month in June, a decline of $1.3 billion at an annual rate or 0.7 percent.

AUTOS AND CREDIT CARDS: Borrowing in the category that includes auto loans rose for a second straight month but the category that includes credit card debt fell for a 21st straight month.

OUTLOOK: Economists believe that consumers will remain reluctant to take on new debt, given continued high unemployment and tight lending standards.