Consumer credit in the United Kingdom advanced by GBP 1.507 billion in November of 2022, following a downwardly revised GBP 0.748 billion increase in October, beating market forecasts of a GBP 0.9 billion rise. This was the strongest increase in consumer credit since June and higher than the previous 6-month average of GBP 1.1 billion. The additional consumer credit borrowing in November was split between GBP 1.2 billion on credit cards, the largest such increase since March of 2004, and GBP 0.3 billion through other forms of consumer credit, such as car dealership finance and personal loans. The annual growth rate for all consumer credit was little changed at 7.0% in November. The annual growth rate of credit card borrowing rose from 11.5% in October to 12.2% in November, while the annual growth rate of other forms of consumer credit decreased slightly from 5.0% in October to 4.8% in November. source: Bank of England
Consumer Credit in the United Kingdom averaged 856.54 GBP Million from 1993 until 2022, reaching an all time high of 2349.00 GBP Million in March of 2016 and a record low of -7417.00 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 2023.
Consumer Credit in the United Kingdom is expected to be 1269.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Consumer Credit is projected to trend around 1524.00 GBP Million in 2024 and 1546.00 GBP Million in 2025, according to our econometric models.