Consumer credit in the United Kingdom rose by GBP 1.145 billion in February 2019, following an upwardly revised GBP 1.15 billion gain in the previous month and beating market consensus of a GBP 0.9 billion increase. Credit card lending rose 0.6 percent, faster than 0.5 percent gain in January and other loans and advances increased at the same pace as in the prior month (0.5 percent). Year over year, consumer credit growth slowed to 6.3 percent from a 6.5 percent rise January. Credit card lending advanced 6.5 percent (from 6.7 percent in January) and other loans and advances went up 6.2 percent (from 6.5 percent in January). Consumer Credit in the United Kingdom averaged 935.47 GBP Million from 1993 until 2019, reaching an all time high of 2240 GBP Million in January of 2005 and a record low of -1182 GBP Million in August of 2009.
Consumer Credit in the United Kingdom is expected to be 491.80 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Credit in the United Kingdom to stand at 691.20 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 713.49 GBP Million in 2020, according to our econometric models.