U.S. consumer credit in October grew sharply for the second straight month, rising $7.65 billion (4.87 billion pounds) after increasing a revised $6.88 billion in September, a Federal Reserve report showed on Wednesday.
That beat forecasts by economists surveyed by Reuters for a $7.0 billion gain in October outstanding consumer credit.
Revolving credit, which mostly measures credit-card use, rose $366.2 million, the second straight monthly increase.
Nonrevolving credit, which includes auto loans, rose $7.28 billion in October after a revised $6.47 billion increase in September.
(Reporting By Jason Lange)