Consumer credit increased by $18.1 billion, or 7.1%, in October to $3.076 trillion, the Federal Reserve reported Friday.

In September, consumer credit rose a revised $16.3 billion, or 6.4%, to $3.057 trillion. September's increase was originally reported as $13.7 billion or 5.4%.

Revolving credit outstanding rose to $856.8 billion from $852.5 billion.

Non-revolving credit climbed to $2.219 trillion from $2.205 trillion.

The consumer credit increase exceeded the median $14.5 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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