Consumer credit increased by $10.4 billion, or 4.4%, in July to $2.852 trillion, the Federal Reserve reported Monday.
In June, consumer credit rose a revised $11.9 billion, or 5.1%, to $2.842 trillion, originally reported as an $13.8 billion jump, or 5.9%, to $2.848 trillion.
Revolving credit outstanding slipped to $849.8 billion from $851.6 billion.
Non-revolving credit rose to $2.002 trillion from $1.990 trillion.
The increase was short of the $12.5 billion rise projected by economists polled by Thomson Reuters.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
