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.

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United Kingdom Consumer Credit


Calendar GMT Actual Previous Consensus TEForecast
2021-10-29 08:30 AM Sep £0.2B £0.5B £0.45B £0.77B
2021-11-29 09:30 AM Oct £0.7B £0.289B £0.4B £0.5B
2022-01-04 09:30 AM Nov


Related Last Previous Unit Reference
Bank Lending Rate 1.10 1.10 percent Nov/21
Net Lending to Individuals MoM 2310.00 9570.00 GBP Million Oct/21
Consumer Credit 706.00 289.00 GBP Million Oct/21

News Stream
UK Consumer Credit Rises More than Expected
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.
2021-11-29
UK September Consumer Credit Below Expectations
Consumer credit in the United Kingdom increased by GBP 0.2 billion in September of 2021, following an upwardly revised GBP 0.5 billion increase in August and missing market expectations of a GBP 0.45 billion rise. Individuals borrowed an additional GBP 0.6 billion in credit card debt, which is the strongest net borrowing since July 2020. Individuals also repaid GBP 0.4 billion of ‘other’ forms of consumer credit, such as car dealership finance and personal loans. This is the first net repayment since February 2021. The annual growth rate for all consumer credit remained weak, but increased to -1.8% in September from -2.4% in August. The annual growth rates of credit cards and other forms of consumer credit also remained weak at -5.5% and -0.3%, respectively.
2021-10-29
UK August Consumer Credit Beats Expectations
Consumer credit in the United Kingdom increased by GBP 0.4 billion in August of 2021, after contracting by GBP 0.042 billion in July and beat market expectations of a GBP 0.3 billion rise. Individuals borrowed an additional GBP 0.2 billion of ‘other’ forms of consumer credit, such as car dealership finance and personal loans, coupled with GBP 0.2 billion increase in credit card debt. On average, GBP 1.2 billion of consumer credit was borrowed, per month, in the two years to February 2020. The annual growth rate for all consumer credit remained weak, despite climbing slightly to -2.4 percent in August from -2.6 percent in July. The annual growth rates of credit cards and other forms of consumer credit also remained weak at -7.9 percent and -0.1 percent, respectively.
2021-09-29

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).