WASHINGTON - Consumer credit decreased by $9.5 billion, or 4.6%, in August to $2.445 trillion, the Federal Reserve reported Friday.
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Revolving credit fell to $790.1 billion, down from $792.3 billion.
Non-revolving credit fell to $1.655 trillion from $1.662 trillion.
Economists expected consumer credit would increase by $8.0 billion, according to the median estimate from Thomson Reuters
Revolving credit includes credit card debt.
Non revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
