Consumer credit in the United Kingdom increased by GBP 0.894 billion to GBP 215.6 billion in October of 2018 and below market expectations of a GBP 1.0 billion gain. It followed an upwardly revised GBP 0.852 billion rise in September. Year-on-year, consumer credit advanced 7.5 percent, the slowest growth since May 2015 amid a sharp decline in new car purchases, compared to an upwardly revised 7.9 percent gain in the previous month. Credit card lending went up 8.6 percent (vs 8.7 percent in September) and other loans increased 6.9 percent (vs 7.4 percent in September). Consumer Credit in the United Kingdom averaged 935.53 GBP Million from 1993 until 2018, reaching an all time high of 2233 GBP Million in January of 2005 and a record low of -1180 GBP Million in August of 2009.
Consumer Credit in the United Kingdom is expected to be 1680.00 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 1850.00 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 2130.00 GBP Million in 2020, according to our econometric models.