Consumer credit in the United Kingdom fell by GBP 2.392 billion in January of 2021, following a downwardly revised GBP 0.870 billion decrease in the previous month and compared to market expectations of a GBP 1.9 billion drop. It was the biggest fall in consumer credit since May of 2020. Borrowing on credit cards declined by GBP 2.167 billion, and other loans and advances went down by GBP 0.225 billion. As a result, the annual growth rate fell further to -8.9%, a new series low since it began in 1994. source: Bank of England

Consumer Credit in the United Kingdom averaged 857.33 GBP Million from 1993 until 2021, reaching an all time high of 2251 GBP Million in January of 2005 and a record low of -7222 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 March of 2021.

Consumer Credit in the United Kingdom is expected to be -2894.79 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Credit in the United Kingdom to stand at -903.06 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around -961.76 GBP Million in 2022 and -978.11 GBP Million in 2023, according to our econometric models.

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United Kingdom Consumer Credit

Actual Previous Highest Lowest Dates Unit Frequency
-2392.00 -870.00 2251.00 -7222.00 1993 - 2021 GBP Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-30 09:30 AM Oct £-0.6B £-0.63B £0.5B
2021-01-04 09:30 AM Nov £-1.539B £-0.698B £-1.5B £-1.4B
2021-02-01 09:30 AM Dec £-0.965B £-1.467B £-1.1B £-1.2B
2021-03-01 09:30 AM Jan £-2.392B £-0.870B £-1.9B £-1.7B
2021-03-29 08:30 AM Feb £-2.392B
2021-05-04 08:30 AM Mar £ -2.9B
2021-06-02 08:30 AM Apr
2021-06-29 08:30 AM May


News Stream
UK Consumer Credit Falls the Most in 8 Months
Consumer credit in the United Kingdom fell by GBP 2.392 billion in January of 2021, following a downwardly revised GBP 0.870 billion decrease in the previous month and compared to market expectations of a GBP 1.9 billion drop. It was the biggest fall in consumer credit since May of 2020. Borrowing on credit cards declined by GBP 2.167 billion, and other loans and advances went down by GBP 0.225 billion. As a result, the annual growth rate fell further to -8.9%, a new series low since it began in 1994.
2021-03-01
UK Consumer Credit Falls Less than Expected
Consumer credit in the United Kingdom declined by GBP 0.965 billion in December of 2020, following a downwardly revised GBP 1.467 billion drop in the previous month and compared to market expectations of a GBP 1.1 billion decrease. Borrowing on credit cards went down by GBP 0.825 billion, and other loans and advances declined by GBP 0.141 billion. Total net repayments were GBP 16.6 billion in 2020, the weakest in one year on record. As a result, the annual growth rate fell further to -7.5% in December, a new series low since it began in 1994.
2021-02-01
UK Consumer Credit Falls More than Expected
Consumer credit in the United Kingdom declined by GBP 1.539 billion in November of 2020, following an upwardly revised GBP 0.698 billion drop in the previous month and compared to market forecasts of GBP 1.5 billion. Borrowing on credit cards went down by GBP 0.886 billion, and other loans and advances declined by GBP 0.653 billion. Since the beginning of March, households have repaid GBP 17.3 billion of consumer credit. That has caused the annual growth rate to fall to -6.7% in November, a new series low since it began in 1994.
2021-01-04
UK Consumer Credit Falls for 2nd Month
Consumer credit in the United Kingdom dropped by 0.6 billion in October of 2020, following a GBP 0.6 billion decline in the previous month. Borrowing on credit cards went down by GBP 0.4 billion, and other loans and advances declined by GBP 0.1 billion. The weakness in consumer credit net flows pushed the annual growth rate down further in October to -5.6%, a new series low since it began in 1994.
2020-11-30

United Kingdom Consumer Credit
Consumer credit (excluding student loans) is defined as borrowing by UK individuals to finance current expenditure on goods and/or services excluding loans issued by the Student Loans Company. Consumer credit (excluding student loans) is split into two components; credit card lending and ‘other’ lending (mainly overdrafts and other loans/advances).