Consumer credit increased by $13.6 billion, or 5.4%, in August to $3.037 trillion, the Federal Reserve reported Monday.

In July, consumer credit rose an unrevised $10.4 billion, or 4.1%, to $2.980 trillion.

Revolving credit outstanding dipped to $848.9 billion from $849.8 billion.

Non-revolving credit rose to $2.188 trillion from $2.174 trillion.

The increase exceeded the $12.0 billion rise projected by economists polled by Thomson Reuters.

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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