Consumer credit grows more than expected in Nov.

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Consumer credit increased by $22.1 billion in November to $3.979 trillion, the Federal Reserve reported Tuesday.

In October, consumer credit rose a revised $25.0 billion to $3.957 trillion.

Economists polled by IFR Markets predicted an $18.0 billion increase in the month.

Revolving credit outstanding in November grew $4.8 billion to $1,042.2 billion from $1,037.4 billion the previous month.

Non-revolving credit rose $17.4 billion to $2.937 trillion from $2.920 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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