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.

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United Kingdom Consumer Credit

Actual Previous Highest Lowest Dates Unit Frequency
300.00 1052.00 2247.00 -7462.00 1993 - 2020 GBP Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-29 08:30 AM May £-4.597B £-7.425B £-2.5B £-2.0B
2020-07-29 08:30 AM Jun £-0.086B £-4.542B £-2B £ 1.1B
2020-09-01 08:30 AM Jul £1.2B £-0.382B £0.678B £0.6B
2020-09-29 08:30 AM Aug £0.3B £1.1B £1.45B £1.5B
2020-10-29 09:30 AM Sep £0.3B £ 0.72B
2020-11-30 09:30 AM Oct


News Stream
Consumer Credit in the UK Slows in August
Consumer credit in the United Kingdom increased by 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.
2020-09-29
UK Consumer Credit Rises for 1st Time in 5 Months
Consumer credit in the United Kingdom increased GBP 1.22 billion in July of 2020, following a GBP 0.382 billion fall in June and compared to market expectations of a GBP 0.678 billion gain. It was the first gain in consumer credit since February, as credit card lending rose by GBP 0.622 billion and other loans and advances went up by GBP 0.598 billion. That recent weakness meant the annual growth rate remained negative at -3.6%, similar to June and it remains the weakest since the series began in 1994.
2020-09-01
UK Consumer Credit Falls Less than Expected
Consumer credit in the United Kingdom edged down GBP 0.086 billion in June of 2020, following a GBP 4.542 billion fall in May and compared to market expectations of a GBP 2 billion decrease, as the coronavirus pandemic continued weighing on spending. Credit card lending fell by GBP 0.25 billion while other loans and advances went up by GBP 0.16 billion. The weakness in consumer credit net flows in recent months meant that the annual growth rate was -3.6%, the weakest since the series began in 1994.
2020-07-29
UK Consumer Credit Falls More than Expected
Consumer credit in the United Kingdom dropped by GBP 4.59 billion in May 2020, following a record GBP 7.42 billion plunge in April and compared with market expectations of a GBP 2.5 billion decrease, as the coronavirus pandemic continued weighing on spending. Credit card lending fell by GBP 1.77 billion and other loans and advances went down by GBP 2.83 billion. The extremely weak net flows of consumer credit meant that the annual growth rate was -3.0%, the weakest since the series began in 1994.
2020-06-29

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).