WASHINGTON — Consumer credit increased by $21.3 billion, or 10.2%, in March to $2.542.3 trillion, the Federal Reserve reported Monday.
In February, consumer credit rose a revised $9.3 billion, or 4.4%, to $2.521.0 trillion, after being initially reported as an $8.7 billion or 4.2% rise to $2.521.8 trillion.
Revolving credit rose to $803.6 billion from $798.5 billion in March, and non-revolving credit climbed to $1.738.7 trillion from $1.722.5 trillion.
The increase surpassed the $9.8 billion increase projected by economists polled by Thomson Reuters.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans and loans for mobile homes, alnog with education, boats, trailers and vacations.