MAY CONSUMER CREDIT UP $7.8bln
Consumer Credit rose $7.8bln or 3.6% in May, in line with expectations and following a downwardly revised $7.8bln rise the prior month (previously reported as $8.9bln).
The use of revolving credit, such as credit cards, rose $5.7bln, or 7.1%, following April’s $424.3mln decline, which was initially reported as a $300mln increase.
Non-revolving credit use (e.g. student and auto loans) increased $2.1bln or 1.6%. That compared to a $8.2bln rise in April, previously reported as $8.6bln.