With a continued increase in non-revolving credit partly offsetting a decrease in revolving credit, the Federal Reserve released a report Wednesday afternoon showing that consumer credit fell by less than economists had expected in the month of July.
The report showed that consumer credit fell by $3.6 billion in July following a revised $1.0 billion decrease in June. Economists had expected credit to decrease by about $5.2 billion compared to the $1.3 billion drop originally reported for the previous month.
Revolving credit, which largely reflects credit card debt, fell by $4.4 billion in July after declining by $5.2 billion in the previous month.
Meanwhile, non-revolving credit, such as car loans, edged up by $0.7 billion in July following a $4.2 billion increase in June.
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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.