☰

M. Continuo

November consumer credit up most since 2001


    WASHINGTON (Reuters) - Consumer credit in November expanded by the most since 2001, rising $20.37 billion after increasing a revised $6.02 billion in October, a Federal Reserve report showed on Monday.

    That was nearly three times the median forecast in a Reuters poll for a $7.0 billion gain in outstanding consumer credit.

    Nonrevolving credit, which includes student and auto loans, rose $14.78 billion in November after a revised $5.34 billion increase in October.

    Revolving credit, which mostly measures credit-card use, rose $5.60 billion, the third straight monthly increase.

    (Reporting by Jason Lange, Editing by Andrea Ricci)