Consumer credit increased by $19.3 billion, or 9.3%, in December to $2.479.0 trillion, the Federal Reserve reported Tuesday.

In November, consumer credit rose a revised $20.4 billion, or 9.9%, to $2.479 trillion.

Revolving credit rose to $801.0 billion from $798.2 billion.

Non-revolving credit rose to $1.697.3 trillion from $1.680.8 trillion.

The increase far exceeded the $7.2 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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