Consumer credit increased by $18.4 billion in December to $3.841 trillion, the Federal Reserve reported Wednesday.

In November, consumer credit rose a revised $31.0 billion to $3.823 trillion.

Economists polled by IFR Markets predicted a $20 billion increase in the month.

Revolving credit outstanding in December rose $5.1 billion to $1.028 trillion from $1.023 trillion the previous month.

Non-revolving credit rose $13.3 billion to $2.813 trillion from $2.799 trillion.

Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.