Consumer borrowing increased in May, according to the latest Fed report, but at a slower pace than April's increase.

   The Federal Reserve reporting overall credit rose by $19.6 billion, down from the $26.1 billion gain in April. analyst Matt Shultz says it means consumers are more confident about spending money and are less worried about being unemployed when the bills come.

   It's also a good trend after the latest jobs and consumer confidence numbers.

    Auto and student loans drove much of the gains in May. 

    Credit card debt rose by a slight $1.8 billion in May, after having surged in April. 

  Photo: Mark Wilson Getty Images