Consumer credit in the United Kingdom rose by GBP 0.822 in May 2019, following an upwardly revised GBP 0.968 billion increase in the previous month and below market expectations of a GBP 0.967 billion gain. Credit card lending rose 0.4 percent, slightly faster than a 0.3 percent advance in April; and other loans and advances went up 0.3 percent, slower than a 0.5 percent increase in the previous month. Year-on-year, consumer credit grew 5.6 percent, the smallest rise since April 2014, compared to 5.9 percent in April. Credit card lending rose 5.5 percent (from 5.8 percent in April) and other loans and advances went up 5.6 percent (from 6.0 percent in April). Consumer Credit in the United Kingdom averaged 934.85 GBP Million from 1993 until 2019, reaching an all time high of 2296 GBP Million in March of 2016 and a record low of -1169 GBP Million in August of 2009.
Consumer Credit in the United Kingdom is expected to be 866.74 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 639.20 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 724.98 GBP Million in 2020, according to our econometric models.