Consumer credit in the United Kingdom edged down GBP 0.086 billion in June of 2020, following a GBP 4.542 billion fall in May and compared to market expectations of a GBP 2 billion decrease, as the coronavirus pandemic continued weighing on spending. Credit card lending fell by GBP 0.25 billion while other loans and advances went up by GBP 0.16 billion. The weakness in consumer credit net flows in recent months meant that the annual growth rate was -3.6%, the weakest since the series began in 1994.

Consumer Credit in the United Kingdom averaged 891.07 GBP Million from 1993 until 2020, reaching an all time high of 2248 GBP Million in January of 2005 and a record low of -7425 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 August of 2020. source: Bank of England

Consumer Credit in the United Kingdom is expected to be 722.00 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 1338.00 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 1283.00 GBP Million in 2021 and 1309.00 GBP Million in 2022, according to our econometric models.

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United Kingdom Consumer Credit

Actual Previous Highest Lowest Dates Unit Frequency
-86.00 -4542.00 2248.00 -7344.00 1993 - 2020 GBP Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-01 08:30 AM Mar £-3.8B £0.9B £0.7B £ 0.65B
2020-06-02 08:30 AM Apr £-7.4B £-3.841B £-4.5B £-4.2B
2020-06-29 08:30 AM May £-4.597B £-7.425B £-2.5B £-2.0B
2020-07-29 08:30 AM Jun £-0.086B £-4.542B £-2B £ 1.1B
2020-09-01 08:30 AM Jul £-0.086B £0.8B
2020-09-29 08:30 AM Aug
2020-10-29 09:30 AM Sep £ 0.72B
2020-11-30 09:30 AM Oct


News Stream
UK Consumer Credit Falls Less than Expected
Consumer credit in the United Kingdom edged down GBP 0.086 billion in June of 2020, following a GBP 4.542 billion fall in May and compared to market expectations of a GBP 2 billion decrease, as the coronavirus pandemic continued weighing on spending. Credit card lending fell by GBP 0.25 billion while other loans and advances went up by GBP 0.16 billion. The weakness in consumer credit net flows in recent months meant that the annual growth rate was -3.6%, the weakest since the series began in 1994.
2020-07-29
UK Consumer Credit Falls More than Expected
Consumer credit in the United Kingdom dropped by GBP 4.59 billion in May 2020, following a record GBP 7.42 billion plunge in April and compared with market expectations of a GBP 2.5 billion decrease, as the coronavirus pandemic continued weighing on spending. Credit card lending fell by GBP 1.77 billion and other loans and advances went down by GBP 2.83 billion. The extremely weak net flows of consumer credit meant that the annual growth rate was -3.0%, the weakest since the series began in 1994.
2020-06-29
UK Consumer Credit Falls the Most on Record
Consumer credit in the United Kingdom plunged by GBP 7.4 billion in April of 2020, following a GBP 3.8 billion decline in the prior month and more than an expected GBP 4.5 billion slump. That was the largest decline in consumer credit since the series began in 1993, amid the impact of the coronavirus pandemic on spending. Credit card lending fell by GBP 5 billion (vs GBP -2.5 billion in March) and other loans and advances went down by GBP 2.4 billion (vs GBP -1.4 billion in March). The extremely weak net flows of consumer credit meant that the annual growth rate fell below zero in April, to -0.4 percent, the weakest since August 2012. Credit card lending slipped 7.8 percent (vs -0.3 percent in March); while other loans and advances rose 3.1 percent (vs 5.6 percent in March).
2020-06-02
UK Consumer Credit Falls the Most on Record
Consumer credit in the United Kingdom dropped by GBP 3.8 billion in March 2020, following a GBP 0.9 billion increase in the previous month and compared to market expectations of a GBP 0.7 billion rise. That was the largest decline in consumer credit since the series began in 1993, due to a large fall in new borrowing amid the coronavirus pandemic. Credit card lending fell by GBP 2.4 billion and other loans and advances went down by GBP 1.5 billion. The weak net flows of consumer credit meant that the annual growth rate slowed to 3.7 percent in March, lowest since June 2013.
2020-05-01

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).