Consumer credit grows more than expected in Nov.
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.