Consumer Credit Rose $13.5 Billion in August

Consumer credit increased by $13.5 billion, or 5.0%, in August to $3.247 trillion, the Federal Reserve reported Tuesday.

In July, consumer credit rose a revised $21.6 billion, or 8.1%, to $3.234 trillion. The month's increase was originally reported as a $26 billion or a 9.7% gain.

Revolving credit outstanding in August inched down to $880.3 billion from $880.5 billion the previous month.

Non-revolving credit rose to $2.367 trillion from $2.353 trillion.

The consumer credit increase was smaller than the median $20 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.