Consumer credit increased by $16.0 billion in October to $3.727 trillion, the Federal Reserve reported Wednesday.
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In September, consumer credit rose a revised $21.8 billion to $3.711 billion, first reported as a $19.3 billion gain to $3.707 trillion.
Economists polled by Thomson Reuters predicted a $19.0 billion increase in the month.
Revolving credit outstanding in October grew to $981.3 billion from $979.0 billion the previous month.
Non-revolving credit rose to $2.746 trillion from $2.732 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
