Consumer borrowing decreased by $7.9 billion in November to $2.570.9 trillion from $2.578.9 trillion in October, the Federal Reserve reported yesterday.
The October decrease was revised to a $2.8 billion drop from the $3.5 billion jump previously reported.
Revolving credit fell to $973.5 billion from $976.3 billion in October, while non-revolving credit fell to $1.597.4 trillion from $1.602.6 trillion.
Non revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
Thomson Reuters had projected a $500 million slip in credit.
