Consumer credit rose in December for a third straight month, the Federal Reserve Board said Monday.

Separately, revolving credit, primarily considered consumer credit debt, increased by 3.5% in December, its first rise since August 2008. Nonrevolving credit stayed positive but declined by 2.8%.

On a quarterly basis, the central bank said consumer credit rose 2.6% in the October-December period. Revolving credit declined 2.8%, to $800.5 billion, and nonrevolving credit grew at an annual rate of 5.4%, to $1.609.9 trillion.

Debt held by consumers, on a seasonally adjusted basis, increased $6 billion, or at a 3% annualized rate, to $2.410 trillion for the month. The Fed revised its November reading to $2.404.3 trillion.

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