Consumer credit in the United Kingdom increased GBP 0.3 billion in August of 2020, following a downwardly revised GBP 1.1 billion rise in July and well below market forecasts of GBP 1.45 billion. Borrowing on credit cards fell to GBP 0.2 billion from GBP 0.6 billion and other forms of consumer credit slowed to GBP 0.1 billion from GBP 0.5 billion. Year-on-year, consumer credit fell 3.9 percent, following a 3.7 percent drop in July and hitting a fresh record low.
Consumer Credit in the United Kingdom averaged 889.75 GBP Million from 1993 until 2020, reaching an all time high of 2247 GBP Million in January of 2005 and a record low of -7462 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 September of 2020. source: Bank of England
Consumer Credit in the United Kingdom is expected to be 722.00 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 -449.00 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 724.98 GBP Million in 2021 and 1309.00 GBP Million in 2022, according to our econometric models.