Consumer credit in the United Kingdom increased by GBP 0.706 billion in October of 2021, following an upwardly revised GBP 0.289 billion increase in September and beating market expectations of a GBP 0.4 billion rise. Individuals borrowed an additional GBP 0.6 billion in credit card debt, which is the strongest net borrowing since July 2020. Individual borrowing in other forms of consumer credit (such as car dealership finance and personal loans) accounted for the other GBP 0.1 billion of net lending. The annual growth rate for all consumer credit remained weak, but increased to -1.0% in October from -1.7% in September. The annual growth rates of credit cards and other forms of consumer credit were -3.2% and -0.5% respectively. source: Bank of England
Consumer Credit in the United Kingdom averaged 840.80 GBP Million from 1993 until 2021, reaching an all time high of 2349 GBP Million in March of 2016 and a record low of -7514 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 December of 2021.
Consumer Credit in the United Kingdom is expected to be -723.52 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 -749.57 GBP Million in 2022 and -757.06 GBP Million in 2023, according to our econometric models.