Consumer credit in the United Kingdom rose by GBP 1.046 billion in June of 2019, following an upwardly revised GBP 0.906 billion increase in the previous month and beating market expectations of a GBP 0.9 billion gain. Credit card lending rose by 0.4 percent, the same pace as in May, and other loans and advances advanced at a faster 0.5 percent, compared to 0.4 percent in May. On a yearly basis, consumer credit grew 5.5 percent, the slowest since April 2014. Credit card lending growth eased to 5.1 percent from 5.5 percent in May and other loans and advances went up 5.7 percent, the same as in May. Consumer Credit in the United Kingdom averaged 935.47 GBP Million from 1993 until 2019, reaching an all time high of 2296 GBP Million in March of 2016 and a record low of -1169 GBP Million in August of 2009.
Consumer Credit in the United Kingdom is expected to be 882.32 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 1513.13 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 714.54 GBP Million in 2020, according to our econometric models.