Consumer credit in the U.S. saw continued growth in the month of April, according to a report released by the Federal Reserve on Thursday, although the pace of growth fell short of economist estimates.
The report showed that consumer credit increased by $6.5 billion in April following a downwardly revised increase of $12.4 billion in March. Economists had expected credit to increase by about $12.0 billion compared to the $21.4 billion increase originally reported for the previous month.
The weaker than expected growth came as an increase in non-revolving credit was partly offset by a drop in revolving credit.
Non-revolving credit such as student loans and car loans rose by $10 billion, while revolving credit, which largely reflects credit card debt, fell by $3.4 billion.
The Fed said consumer credit increased at an annual rate of 3.1 percent in April, as a 7.1 percent increase in non-revolving credit more than offset a 4.8 percent drop in revolving credit.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.