US consumer credit increased $7.4 billion, or a 1.8% annualized rate, in June, below expectations of an $7 billion increase but the fourth consecutive month of positive consumer credit growth.

• Revolving credit fell at a SAAR of -1.0%, and nonrevolving credit grew at a SAAR of 2.7%.
• Total consumer credit is now over $5 trillion for the first time ever.