Consumer credit increased by $16.5 billion, or 6.4%, in February to $3.130 trillion, the Federal Reserve reported Monday.
Processing Content
In January, consumer credit rose a revised $13.8 billion, or 5.3%, to $3.113 trillion. January's increase was originally reported as $13.7 billion.
Revolving credit outstanding fell to $854.2 billion from $856.6 billion.
Non-revolving credit rose to $2.275 trillion from $2.256 trillion.
The consumer credit increase exceeded the median $14.09 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.
