NEW YORK - Consumer credit increased by $6.5 billion, or 3.1%, in April to $2.550.9 trillion, the Federal Reserve reported Thursday.
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In March, consumer credit rose a revised $12.4 billion, or 5.9%, to $2.544 trillion.
Revolving credit fell to $862.3 billion from $865.7 billion.
Non-revolving credit rose to $1.678.6 trillion from $1.688.6 trillion.
The increase fell short of the $12.0 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.
