ECONOMY

Consumer Borrowing Dips Again: Americans reined in their borrowing at a 1% annual rate in May--the fifth pullback in six months--because of a 14.1% plunge in automobile loans, the government said. Analysts attributed the decline to consumer and lender caution, which they said could mute the economy’s recovery. The Federal Reserve said consumer credit fell by a seasonally adjusted $626 million after increasing at a 1.9% rate in April. The April gain, originally estimated at 2.8%, was the first since installment credit advanced last November.