Consumer credit increased by $12.4 billion in June to $3.856 trillion, the Federal Reserve reported Monday.

In May, consumer credit rose a revised $18.3 billion to $3.843 trillion, first reported as a $18.4 billion rise.

Economists polled by IFR Markets predicted a $15.54 billion increase in the month.

Revolving credit outstanding in June rose $4.1 billion to $1.022 trillion from $1.018 trillion the previous month.

Non-revolving credit rose $8.3 billion to $2.834 trillion from $2.826 trillion.

Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.