Consumer credit in the United Kingdom increased by GBP 0.28 billion in May of 2021, following a GBP 0.23 billion drop in the previous month and above market expectations of a GBP 0.24 billion rise. For the first time since August 2020, consumers borrowed more than they paid off. The annual growth rate remained weak, but rose to -3.2% in May from -5.7% in April. The increase in net consumer credit reflected an additional GBP 0.4 billion of ‘other’ forms of consumer credit, such as car dealership finance and personal loans. Credit card lending remained weak compared to pre-February 2020 levels, with a net repayment of GBP 0.1 billion. The annual growth rates of both components have risen from series lows in February, but remained weak at -0.4% and -9.9%, respectively. source: Bank of England

Consumer Credit in the United Kingdom averaged 843.39 GBP Million from 1993 until 2021, reaching an all time high of 2309 GBP Million in March of 2016 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 July of 2021.

Consumer Credit in the United Kingdom is expected to be -758.28 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 294.28 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around -822.71 GBP Million in 2022 and -836.69 GBP Million in 2023, according to our econometric models.

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United Kingdom Consumer Credit

Actual Previous Highest Lowest Dates Unit Frequency
280.00 -228.00 2309.00 -7462.00 1993 - 2021 GBP Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-29 08:30 AM Feb £-1.246B £-2.65B £-1.25B £-1.6B
2021-05-04 08:30 AM Mar £-0.5B £-1.168B £-0.5B £-0.6B
2021-06-02 08:30 AM Apr £-0.377B £-0.388B £0.5B £0.5B
2021-06-29 08:30 AM May £0.28B £-0.23B £0.24B £0.2B
2021-07-29 08:30 AM Jun £0.28B £0.55B £0.68B
2021-09-01 08:30 AM Jul
2021-09-29 08:30 AM Aug
2021-10-29 09:30 AM Sep £ -0.76B


News Stream
UK Consumer Credit Rises for 1st Time in 9 Months
Consumer credit in the United Kingdom increased by GBP 0.28 billion in May of 2021, following a GBP 0.23 billion drop in the previous month and above market expectations of a GBP 0.24 billion rise. For the first time since August 2020, consumers borrowed more than they paid off. The annual growth rate remained weak, but rose to -3.2% in May from -5.7% in April. The increase in net consumer credit reflected an additional GBP 0.4 billion of ‘other’ forms of consumer credit, such as car dealership finance and personal loans. Credit card lending remained weak compared to pre-February 2020 levels, with a net repayment of GBP 0.1 billion. The annual growth rates of both components have risen from series lows in February, but remained weak at -0.4% and -9.9%, respectively.
2021-06-29
UK Consumer Credit Unexpectedly Falls in April
Consumer credit in the United Kingdom decreased by GBP 0.377 billion in April of 2021, following a downwardly revised GBP 0.388 billion in the previous month and defying market expectations of a GBP 0.5 billion increase. This is smaller than seen on average each month over the past year (GBP 1.7 billion). Within consumer credit, the repayment in April was concentrated in credit cards (GBP 0.4 billion). There was no additional borrowing in other forms of consumer credit. Year-on-year, the credit fell by 5.7 percent, after declining by 8.8 percent in March.
2021-06-02
Consumer Credit in the UK Falls for 8th Month
Consumer credit in the United Kingdom decreased by GBP 0.5 billion in March of 2021, following a GBP 1.2 billion drop in the previous month and matching market expectations. Consumers repaid net GBP 0.4 billion on credit cards and GBP 0.3 billion on other forms of consumer credit. However, this is smaller than seen on average each month over the past year (GBP 1.9 billion). Compared to the same month a year ago, the credit fell by 8.6 percent.
2021-05-04
Consumer Credit in the UK Falls for 7th Month
Consumer credit in the United Kingdom fell by GBP 1.2 billion in February of 2021, following a GBP 2.6 billion decrease in the previous month and matching market expectations. Consumers repaid net GBP 0.9 billion on credit cards and GBP 0.3 billion on other forms of consumer credit. However, this is a slightly smaller net repayment than the average of GBP 1.8 billion since March 2020. Compared to the same month a year ago, the credit fell by 9.9 percent, the most since the series began in 1994.
2021-03-29

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).