Consumer credit in the U.S. increases by $13.42 billion in April
The Fed released its consumer credits figures on Tuesday. Consumer credit in the U.S. rose by $13.42 billion in April, missing expectations for a $18.00 billion increase, after a $28.38 billion gain in March. March's figure was revised down from a $29.67 billion rise.
The increase was mainly driven by gains in non-revolving credit. Revolving credit rose by 2.1% in April, while non-revolving credit jumped by 5.4%.