U.S. consumer credit increased $16.9 billion in October, down from a $27.8 billion gain in September, according to Federal Reserve data released Tuesday. Economists had been expecting a $25 billion gain, according to the Wall Street Journal forecast. That's an annual growth rate of 4.7% in October, down from a 7.7% gain in the prior month. Revolving credit, like credit cards, rose 7.8% after an 11.7% gain in September. Nonrevolving credit, typically auto and student loans, rose 3.7% after a 6.5% growth rate in the prior month. This category of credit is much less volatile. It fell briefly at the start of the pandemic before returning to steady growth, although more recently, it has been depressed by the lack of supply of new cars. The data does not include mortgage loans, which is the largest category of household debt.