UK Consumer Credit at 5-Month Low

Net borrowing of consumer credit by individuals in the UK fell to £1.52 billion in December 2025, the lowest in three months, from the upwardly revised £2.14 billion in November and below market forecasts of £1.7 billion. Net borrowing on credit cards decreased to £0.7 billion from £1.0 billion in November. Similarly, net borrowing through other forms of consumer credit, including car dealership finance and personal loans, declined to £0.8 billion in December from £1.2 billion the previous month. The annual growth rate for total consumer credit remained steady at 8.2% in December. Meanwhile, the annual growth rate for credit card borrowing rose to 12.4% from 12.1%, marking the highest level since January 2024 at 12.5%. The annual growth rate for other forms of consumer credit held steady at 6.4%, the highest since September 2024 at 6.6%.

Net borrowing of consumer credit by individuals in the UK rose to £2.1 billion in November 2025 from an upwardly revised £1.7 billion in the previous month and well above market forecasts of £1.1 billion. It was the highest reading since November 2023, as net borrowing through credit cards went up to £1.0 billion in November from £0.7 billion in October. Net borrowing through other forms of consumer credit, such as car dealership finance and personal loans, slightly increased to £1.1 billion in November from £1.0 billion. The annual growth rate for all consumer credit rose to 8.1% in November, from 7.5% in the previous month. Over the same period, the annual growth rate for credit card borrowing increased to 12.1% from 10.9%, the highest since January 2024 (12.5%), while the annual growth rate for other forms of consumer credit increased to 6.3% from 6.0%, the highest since September 2024 (6.6%).

Net borrowing of consumer credit by individuals in the UK decreased for the second consecutive month to £1.1 billion in October 2025, the lowest in five months, from a revised £1.4 billion in the previous month and below market forecasts of £1.4 billion. In October, net borrowing through credit cards slightly decreased, to £0.6 billion from £0.7 billion. Net borrowing through other forms of consumer credit such as car dealership finance and personal loans was £0.5 billion in October, down from £0.7 billion in September. The annual growth rate for all consumer credit remained unchanged at 7.2% in October. Over the same period, the annual growth rate for credit card borrowing slightly increased, to 10.9% from 10.8%, while the annual growth rate for other forms of consumer credit decreased to 5.5% from 5.7%.