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. 

   Creditcard.com 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