NEW YORK - Consumer borrowing increased by $6.3 billion in April to a seasonally adjusted $2.428.2 trillion from $2.421.9 trillion in March, a 3.1% increase, the Federal Reserve reported Tuesday.
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The March increase was revised to $4.8 billion from $6 billion
Revolving credit fell to $790.1 billion from $791.1 billion in March, while non-revolving credit rose to $1.638.1 trillion from $1.630.1 trillion.
Non revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
Thomson Reuters had projected a $5.37 billion rise in credit.
