Consumer credit in the United Kingdom increased by GBP 1.4 billion in April of 2022, following a downwardly revised GBP 1.3 billion rise in March, above market expectations of GBP 1.2 billion. This is the third consecutive month where borrowing has been higher than the 12-month pre-pandemic average up to February 2020 of GBP 1.0 billion. The additional borrowing in April of consumer credit was split between GBP 0.7 billion on credit cards, and GBP 0.7 billion through other forms of consumer credit, such as car dealership finance and personal loans. The annual growth rate for all consumer credit increased to 5.7% in April from 5.2% in March; the highest rate since February 2020. The annual growth rates of credit card borrowing and other forms of consumer credit were 11.6% (the highest since November 2005) and 3.4% (the highest since March 2020), respectively. source: Bank of England
Consumer Credit in the United Kingdom averaged 850.36 GBP Million from 1993 until 2022, reaching an all time high of 2349 GBP Million in March of 2016 and a record low of -7417 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 June of 2022.
Consumer Credit in the United Kingdom is expected to be 690.00 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 1032.00 GBP Million in 2023 and 1049.00 GBP Million in 2024, according to our econometric models.