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.

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United Kingdom Consumer Credit



Calendar GMT Actual Previous Consensus TEForecast
2022-11-29 09:30 AM Oct £0.769B £0.608B £0.9B £0.81B
2023-01-04 09:30 AM Nov £1.507B £0.7B £0.9B £0.82B
2023-01-31 09:30 AM Dec £1.507B £1.2B £ 1.31B


Related Last Previous Unit Reference
Bank Lending Rate 4.50 4.00 percent Dec 2022
Net Lending to Individuals MoM 5865.00 4324.00 GBP Million Nov 2022
Consumer Credit 1507.00 748.00 GBP Million Nov 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
1507.00 748.00 2349.00 -7417.00 1993 - 2022 GBP Million Monthly
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News Stream
UK Consumer Credit Growth Tops Forecasts
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.
2023-01-04
UK Consumer Credit Rises Less than Expected
Consumer credit in the United Kingdom rose by GBP 0.769 billion in October of 2022, following a downwardly revised GBP 0.608 billion gain in September, while analysts expected an increase of GBP 0.9 billion. This was below previous 6-month average of GBP 1.3 billion. The additional consumer credit borrowing in October was split between GBP 0.4 billion on credit cards, which increased from GBP 0.1 billion in September, and GBP 0.4 billion through other forms of consumer credit such as car dealership finance and personal loans. The annual growth rate for all consumer credit decreased slightly to 7.0 percent in October, from 7.1 percent in September.
2022-11-29
UK Consumer Credit Growth Misses Forecasts
Consumer credit in the United Kingdom rose by GBP 0.745 billion in September of 2022, following an upwardly revised GBP 1.215 billion gain in August, while analysts expected an increase of GBP 0.978 billion. This was the lowest level since December 2021 (GBP 0.3 billion). The additional consumer credit borrowing in September was split between GBP 0.1 billion on credit cards, which fell from GBP 0.7 billion in August, and GBP 0.7 billion through other forms of consumer credit, such as car dealership finance and personal loans. The annual growth rate for all consumer credit increased slightly to 7.2% in September, from 7.1% in August; the highest rate since March 2019.
2022-10-31