Consumer credit increased by $20.54 billion in April to $3.385 trillion, the Federal Reserve reported Friday.
Processing Content
In March, consumer credit rose a revised $21.3 billion to $3.364 trillion. The month's increase was originally reported as a $20.5 billion gain to $3.363 trillion.
Economists polled by Thomson Reuters predicted a $16.95 billion increase in the month.
Revolving credit outstanding in April edged up to $899.5 billion from $890.9 billion the previous month.
Non-revolving credit rose to $2.485 trillion from $2.473 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
