Total outstanding consumer credit jumped 7% to $1.910 trillion in November.
This is a gain of $16.04 billion.
Economists estimated that consumer credit would climb by $12.75 billion.
Revolving debt (e.g. credit cards) climbed by 1.1 per cent, while non-revolving debt (e.g. car loans) jumped 9.6 per cent.
Here’s a historical look at the numbers.
Photo: Federal Reserve