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The increase, of 3.1 percent, pushed consumer borrowing to a seasonally adjusted annual level of $2.43 trillion, just above the nearly four-year low of $2.39 trillion, reached in September.
But a category that measures credit card use fell for the second time in three months. It has risen only twice since August 2008.
The overall report includes auto loans, student loans and credit cards, but it excludes mortgages and other loans tied to real estate. The Fed will give a more complete picture of Americans’ debt on Thursday, when it issues a report on household net worth.
Households began borrowing less and saving more to cope with the recession that officially ended in June 2009. Credit card use has fallen nearly 19 percent in the last 20 months and has dropped 5 percent in the last year.
Overall borrowing has increased in recent months. Analysts say the reason for the increase is also a reflection of the weak economy: the gains have been driven by more people borrowing money to attend school.
High unemployment, steep gas prices and a weakening housing market have also forced people to resist reaching for their plastic.
“When you take out student loans, you’re still seeing credit card use, and borrowing over all, falling,” said Paul Dales, chief United States economist at Capital Economics. “That’s a sign about how people view the economy.”
Most economists say borrowing will increase this year. But they do not expect consumers to increase their debt.
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