APRIL CONSUMER CREDIT UP $8.9bln
Consumer Credit rose $8.9bln or 4.2% in April after a downwardly revised $13.1bln uptick in March (originally reported as $15.3bln).
The increase was larger than the $7.2bln analysts were expecting.
The use of revolving credit, such as credit cards, increased only $300.4mln, or 0.4%, following a $5.8bln increase in March, previously reported as a $6.3bln rise.
Non-revolving credit use, for boat, car, and education loans, rose $8.6bln, or 6.5%, after increasing $7.3bln the prior month, previously reported as a $9bln jump.