Consumer credit grows more than expected in Jan.

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Consumer credit increased by $17.0 billion in January to $4.035 trillion, the Federal Reserve reported Thursday.

In December, consumer credit rose a revised $15.4 billion to $4.018 trillion.

Economists polled by IFR Markets predicted a $15.5 billion increase in the month.

Revolving credit outstanding in January grew $2.6 billion to $1.058 trillion from $1.056 trillion the previous month.

Non-revolving credit rose $14.5 billion to $2.977 trillion from $2.962 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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