UK Consumer Credit Growth Slows Down

UK Consumer Credit Growth Slows Down  | Nov 29, 2017 09:50

UK consumer growth fell to an 18-month low in October. - The growth of net lending to individuals and households in the U.K. was at an 18-month low as household debt eases, official data showed on Wednesday.

In a report, the Bank of England said total net lending to individuals increased by ₤4.8 billion last month, above forecasts for ₤4.3 billion. The lending rate was below the ₤5.2 billion lent in September, which was revised down from ₤5.5 billion.

Meanwhile, the M4 Money Supply increased by a seasonally adjusted 0.6% in October, higher than expectations for a rise of 0.3% and following a drop of 0.1% in September, which was revised from negative 0.2%.

The report also showed that the number of final mortgage approvals fell to 64,580 last month from 66,110 in September, revised down from 66,230. Economists had expected mortgage approvals to rise to 65,000.

Mortgage lending fell to 3.39 billion, compared to 3.75 billion in September, which was revised from 3.85 billion. Analysts had expected lending to fall to 3.60 billion.

GBP/USD was trading at 1.3405 from around 1.3407 ahead of the release of the data, while EUR/GBP was at 0.8855 from 0.8854 earlier.

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (India) English (Canada) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.