UPDATE 1-U.S. consumer credit rises $19.3 bln in December

WASHINGTON, Feb 7 - U.S. consumer credit expanded much more than expected in December, a positive signal for the economy as people used their credit cards more and borrowed money to buy cars and go to school.

Total consumer credit grew by $19.31 billion, more than twice the $7.7 billion increase expected by analysts in a Reuters poll.

Non-revolving credit, which includes auto loans as well as student loans made by the government, accounted for the bulk of the increase as outstanding credit rose $16.55 billion during the month. That was the biggest increase since November 2001, when credit was surging in the wake of the September 11 attacks in New York and Washington.

But revolving credit, which mostly measures credit-card use, also climbed in December. It rose $2.76 billion for its fourth straight monthly gain.

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