Consumer credit in the United Kingdom increased by GBP 0.31 billion in June of 2021, following an upwardly revised GBP 0.43 billion rise in the previous month and below market expectations of a GBP 0.6 billion advance. GBP 0.31 billion remains below the GBP 1.2 billion average monthly borrowing in the 24 months to February 2020. The annual growth rate remained weak, but rose slightly to -2.2% in June from -2.9% in May. The increase in net consumer credit reflected an additional GBP 0.2 billion of ‘other’ forms of consumer credit, such as car dealership finance and personal loans. Credit card lending showed net borrowing of GBP 0.1 billion. The annual growth rates of both components have risen from series lows in February 2021, but remained weak at -0.1% and -7.4%, respectively. source: Bank of England
Consumer Credit in the United Kingdom averaged 841.79 GBP Million from 1993 until 2021, reaching an all time high of 2309 GBP Million in March of 2016 and a record low of -7462 GBP Million in April of 2020. This page provides the latest reported value for - United Kingdom Consumer Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Consumer Credit - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Consumer Credit in the United Kingdom is expected to be -758.28 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Consumer Credit is projected to trend around -822.71 GBP Million in 2022 and -836.69 GBP Million in 2023, according to our econometric models.