Consumer credit balances increased by $US19.6 billion in May. This is according to the Federal Reserve’s monthly G.19 report.
This compares to the $US26.1 billion increase in April.
Economists were expecting balances to increase by $US19.6 billion.
Revolving debt, which includes things like credit cards, inceased by $US1.79 billion.
Non-revolving debt, which includes car loans and student loans, climbed by $US17.8 billion.