Consumer credit increased by $17.7 billion in July to $3.661 trillion, the Federal Reserve reported Thursday.
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In June, consumer credit rose a revised $14.5 billion to $3.643 billion, first reported as a $12.3 billion gain to $3.634 trillion.
Economists polled by Thomson Reuters predicted a $15.7 billion increase in the month.
Revolving credit outstanding in July grew to $969.0 billion from $966.2 billion the previous month.
Non-revolving credit rose to $2.692 trillion from $2.677 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
