Consumer credit in the United Kingdom declined by GBP 0.965 billion in December of 2020, following a downwardly revised GBP 1.467 billion drop in the previous month and compared to market expectations of a GBP 1.1 billion decrease. Borrowing on credit cards went down by GBP 0.825 billion, and other loans and advances declined by GBP 0.141 billion. Total net repayments were GBP 16.6 billion in 2020, the weakest in one year on record. As a result, the annual growth rate fell further to -7.5% in December, a new series low since it began in 1994. source: Bank of England
Consumer Credit in the United Kingdom averaged 866.77 GBP Million from 1993 until 2020, reaching an all time high of 2251 GBP Million in January of 2005 and a record low of -7229 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 February of 2021.
Consumer Credit in the United Kingdom is expected to be -2897.59 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 -995.88 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around -1015.80 GBP Million in 2022 and -1035.10 GBP Million in 2023, according to our econometric models.