Consumer credit increased by $19.6 billion, or 7.4%, in May to $3.195 trillion, the Federal Reserve reported Tuesday.
In April, consumer credit rose a revised $26.1 billion, or 10.0%, to $3.175 trillion. April's increase was originally reported as $26.9 billion, or 10.2%.
Revolving credit outstanding climbed to $872.2 billion from $870.4 billion.
Non-revolving credit rose to $2.322 trillion from $2.305 trillion.
The consumer credit increase was slightly less than the median $20 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.
