WASHINGTON — Consumer credit climbed $8 billion, or 3.4%, in March to $2.807.5 trillion, the Federal Reserve reported Tuesday.
In February consumer credit jumped a revised $18.6 billion, or 8%, originally reported as an $18.2 billion increase.
Revolving credit dipped 2.4% to $846.2 billion in March, while non-revolving credit rose 5.9% to $1.961.3 trillion.
The credit increase was less than that expected by economists polled by Thomson Reuters, who had projected a $15 billion increase.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.