Consumer credit increased by $19.6 billion, or 8.3%, in May to $2.839 trillion, the Federal Reserve reported Monday.
In April, consumer credit rose a revised $10.9 billion, or 4.6%, to $2.820 trillion, originally reported as an $11.1 billion jump, or 4.7%, to $2.820 trillion.
Revolving credit outstanding climbed to $856.5 billion from $849.9 billion.
Non-revolving credit rose to $1.983 trillion from $1.970 trillion.
The increase exceeded 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.
