Consumer credit grows less than expected in April
Consumer credit increased by $9.3 billion in April to $3.883 trillion, the Federal Reserve reported Thursday.
In March, consumer credit rose a revised $12.3 billion to $3.873 trillion
Economists polled by IFR Markets predicted a $14 billion increase in the month.
Revolving credit outstanding in April grew $2.3 billion to $1.031 trillion from $1.029 trillion the previous month.
Non-revolving credit rose $7.0 billion to $2.852 trillion from $2.845 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.