Consumer credit increased by $16.0 billion in August to $3.470 trillion, the Federal Reserve reported Wednesday.
In July, consumer credit rose a revised $18.9 billion to $3.434 trillion. The month's increase was originally reported as a $19.1 billion gain.
Economists polled by Thomson Reuters predicted a $19.0 billion increase in the month.
Revolving credit outstanding in August edged up to $918.5 billion from $914.5 billion the previous month.
Non-revolving credit rose to $2.551 trillion from $2.539 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
