Consumer credit in the United Kingdom increased by GBP 1.095 billion in January of 2018, beating market expectations of a GBP 0.8 billion gain and following a downwardly revised GBP 0.683 billion rise in December. Credit card lending picked up (0.5 percent from 0.1 percent in December) and other loans and advances increased slightly (0.7 percent from 0.6 percent). Year over year, consumer credit growth eased to 6.5 percent, the slowest increase since October 2014, from 6.6 percent in December. Credit card lending went up 6.7 percent (from 7.1 percent in December) and other loans and advances increased 6.4 percent (from 6.3 percent in December). Consumer Credit in the United Kingdom averaged 934.62 GBP Million from 1993 until 2019, reaching an all time high of 2240 GBP Million in January of 2005 and a record low of -1182 GBP Million in August of 2009.
Consumer Credit in the United Kingdom is expected to be 1220.00 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 1210.00 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 1730.00 GBP Million in 2020, according to our econometric models.