Consumer credit in the United Kingdom increased by GBP 1.2 billion in November of 2021, following an upwardly revised GBP 0.8 billion increase in October and beating market expectations of a GBP 0.8 billion rise. It was the biggest rise in consumer credit since July 2020, led by a GBP 0.9 billion of additional borrowing on credit cards, also the strongest since July 2020. Individual borrowing in other forms of consumer credit (such as car dealership finance and personal loans) amounted to GBP 0.4 billion of net lending. The annual growth rate for all consumer credit increased to 0.4 percent in November from -1.0 percent in October, the first positive growth rate since March 2020. The annual growth rates of credit cards and other forms of consumer credit were -0.2 percent and 0.6 percent respectively. source: Bank of England

Consumer Credit in the United Kingdom averaged 843.15 GBP Million from 1993 until 2021, reaching an all time high of 2349 GBP Million in March of 2016 and a record low of -7493 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 January of 2022.

Consumer Credit in the United Kingdom is expected to be 14.00 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 1302.00 GBP Million in 2023 and 1336.00 GBP Million in 2024, according to our econometric models.

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United Kingdom Consumer Credit


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).
Actual Previous Highest Lowest Dates Unit Frequency
1233.00 828.00 2349.00 -7493.00 1993 - 2021 GBP Million Monthly
SA

Calendar GMT Actual Previous Consensus TEForecast
2021-11-29 09:30 AM Oct £0.7B £0.289B £0.4B £0.5B
2022-01-04 09:30 AM Nov £1.2B £0.706B £0.8B £0.9B
2022-02-01 09:30 AM Dec £1.2B £0.7B


Related Last Previous Unit Reference
Bank Lending Rate 1.25 1.10 percent Dec/21
Net Lending to Individuals MoM 4926.00 1977.00 GBP Million Nov/21
Consumer Credit 1233.00 828.00 GBP Million Nov/21


News Stream
UK Consumer Credit Beats Expectations
Consumer credit in the United Kingdom increased by GBP 1.2 billion in November of 2021, following an upwardly revised GBP 0.8 billion increase in October and beating market expectations of a GBP 0.8 billion rise. It was the biggest rise in consumer credit since July 2020, led by a GBP 0.9 billion of additional borrowing on credit cards, also the strongest since July 2020. Individual borrowing in other forms of consumer credit (such as car dealership finance and personal loans) amounted to GBP 0.4 billion of net lending. The annual growth rate for all consumer credit increased to 0.4 percent in November from -1.0 percent in October, the first positive growth rate since March 2020. The annual growth rates of credit cards and other forms of consumer credit were -0.2 percent and 0.6 percent respectively.
2022-01-04
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