Consumer credit rose $18.5 billion in July
Consumer credit increased by $18.5 billion in July to $3.753 trillion, the Federal Reserve reported Friday.
In June, consumer credit rose a revised $11.8 billion to $3.735 trillion, first reported as a $12.4 billion rise.
Economists polled by IFR Markets predicted a $15.1 billion increase in the month.
Revolving credit outstanding in July rose $2.6 billion to $995 billion from $992 billion the previous month.
Non-revolving credit rose $15.9 billion to $2.759 trillion from $2.744 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.