Consumer credit in the United Kingdom rose by GBP 0.901 billion in August 2019, following a downwardly revised GBP 1.007 billion gain in the previous month and matching market forecasts. Credit card lending advanced by 0.3 percent, easing from a 0.4 percent increase in July and other loans advanced went up 0.7 percent, the same pace as in the prior month. On a yearly basis, consumer credit increased 5.4 percent, the weakest annual growth since March 2014, slowing from a 5.6 percent increase in July. Credit card lending went up 4.9 percent (vs 5.2 percent in July) and other loans and advanced rose 5.7 percent (the same as in July). Consumer Credit in the United Kingdom averaged 936.04 GBP Million from 1993 until 2019, reaching an all time high of 2328 GBP Million in March of 2016 and a record low of -1171 GBP Million in August of 2009.
Consumer Credit in the United Kingdom is expected to be 866.74 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 1090.05 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 724.98 GBP Million in 2020, according to our econometric models.