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. source: Bank of England
Consumer Credit in the United Kingdom averaged 840.40 GBP Million from 1993 until 2021, reaching an all time high of 2328 GBP Million in March of 2016 and a record low of -7628 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 October of 2021.
Consumer Credit in the United Kingdom is expected to be -715.10 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 -740.84 GBP Million in 2022 and -753.44 GBP Million in 2023, according to our econometric models.