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.

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United Kingdom Consumer Credit


Calendar GMT Actual Previous Consensus TEForecast
2021-06-29 08:30 AM May £0.28B £-0.23B £0.24B £0.2B
2021-07-29 08:30 AM Jun £0.3B £0.43B £0.6B £0.68B
2021-08-31 08:30 AM Jul £-0.042B £0.302B £0.441B £0.5B
2021-09-29 08:30 AM Aug £0.4B £-0.042B £0.3B £0.2B
2021-10-29 09:30 AM Sep £0.4B £0.77B
2021-11-30 09:30 AM Oct


News Stream
UK August Consumer Credit Beats Expectations
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.
2021-09-29
UK Consumer Credit Rises Less than Expected
Consumer credit in the United Kingdom increased by GBP 0.31 billion in June of 2021, following an upwardly revised GBP 0.43 billion rise in the previous month and below market expectations of a GBP 0.6 billion advance. GBP 0.31 billion remains below the GBP 1.2 billion average monthly borrowing in the 24 months to February 2020. The annual growth rate remained weak, but rose slightly to -2.2% in June from -2.9% in May. The increase in net consumer credit reflected an additional GBP 0.2 billion of ‘other’ forms of consumer credit, such as car dealership finance and personal loans. Credit card lending showed net borrowing of GBP 0.1 billion. The annual growth rates of both components have risen from series lows in February 2021, but remained weak at -0.1% and -7.4%, respectively.
2021-07-29
UK Consumer Credit Rises for 1st Time in 9 Months
Consumer credit in the United Kingdom increased by GBP 0.28 billion in May of 2021, following a GBP 0.23 billion drop in the previous month and above market expectations of a GBP 0.24 billion rise. For the first time since August 2020, consumers borrowed more than they paid off. The annual growth rate remained weak, but rose to -3.2% in May from -5.7% in April. The increase in net consumer credit reflected an additional GBP 0.4 billion of ‘other’ forms of consumer credit, such as car dealership finance and personal loans. Credit card lending remained weak compared to pre-February 2020 levels, with a net repayment of GBP 0.1 billion. The annual growth rates of both components have risen from series lows in February, but remained weak at -0.4% and -9.9%, respectively.
2021-06-29
UK Consumer Credit Unexpectedly Falls in April
Consumer credit in the United Kingdom decreased by GBP 0.377 billion in April of 2021, following a downwardly revised GBP 0.388 billion in the previous month and defying market expectations of a GBP 0.5 billion increase. This is smaller than seen on average each month over the past year (GBP 1.7 billion). Within consumer credit, the repayment in April was concentrated in credit cards (GBP 0.4 billion). There was no additional borrowing in other forms of consumer credit. Year-on-year, the credit fell by 5.7 percent, after declining by 8.8 percent in March.
2021-06-02

United Kingdom Last Unit Reference Previous Highest Lowest
Bank Lending Rate 1.10 percent Sep/21 1.10 18.00 0.00
Consumer Credit 400.00 GBP Million Aug/21 -42.00 2328.00 -7628.00


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).