Consumer credit increased by $7.7 billion, or 3.7%, in October to $2.457.5 trillion, the Federal Reserve reported Wednesday.

In September, consumer credit rose a revised $6.8 billion, or 3.4%, to $2.450 trillion. The September increase was originally reported as a $7.4 billion, or 3.6%, rise to $2.452 trillion.

Revolving credit rose to $792.3 billion from $792.0 billion.

Non-revolving credit rose to $1.665 trillion from $1.658 trillion.

Economists expected consumer credit would increase by $7.0 billion, according to those 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.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.