Consumer credit in the United Kingdom declined by GBP 1.539 billion in November of 2020, following an upwardly revised GBP 0.698 billion drop in the previous month and compared to market forecasts of GBP 1.5 billion. Borrowing on credit cards went down by GBP 0.886 billion, and other loans and advances declined by GBP 0.653 billion. Since the beginning of March, households have repaid GBP 17.3 billion of consumer credit. That has caused the annual growth rate to fall to -6.7% in November, a new series low since it began in 1994. source: Bank of England
Consumer Credit in the United Kingdom averaged 872.42 GBP Million from 1993 until 2020, reaching an all time high of 2245 GBP Million in January of 2005 and a record low of -7500 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 January of 2021.
Consumer Credit in the United Kingdom is expected to be -2913.00 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 -1588.00 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around -1620.00 GBP Million in 2022 and -1652.00 GBP Million in 2023, according to our econometric models.