Total consumer credit increased by $18.2 billion
to $3.08 trillion, the Federal Reserve said on Friday.
Economists polled by Reuters had expected consumer credit to
rise $14.5 billion in October. The Fed revised upward its
estimate for credit growth in the prior month.
Revolving credit, which mostly measures credit-card use, climbed
$4.3 billion. The central bank also said the decline in
revolving credit registered in September was not nearly as sharp
as previously estimated.
Nonrevolving credit, which includes auto loans as well as
student loans made by the government, increased $13.9 billion in
October, the Fed data showed.
(Reporting by Jason Lange; editing by
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