Consumer credit in the United Kingdom dropped by GBP 3.8 billion in March 2020, following a GBP 0.9 billion increase in the previous month and compared to market expectations of a GBP 0.7 billion rise. That was the largest decline in consumer credit since the series began in 1993, due to a large fall in new borrowing amid the coronavirus pandemic. Credit card lending fell by GBP 2.4 billion and other loans and advances went down by GBP 1.5 billion. The weak net flows of consumer credit meant that the annual growth rate slowed to 3.7 percent in March, lowest since June 2013.

Consumer Credit in the United Kingdom averaged 936.48 GBP Million from 1993 until 2020, reaching an all time high of 2248 GBP Million in January of 2005 and a record low of -3841 GBP Million in March 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 May of 2020. source: Bank of England

Consumer Credit in the United Kingdom is expected to be 1037.00 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 -3753.00 in 12 months time. In the long-term, the United Kingdom Consumer Credit is projected to trend around 1294.00 GBP Million in 2021 and 1320.00 GBP Million in 2022, according to our econometric models.

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United Kingdom Consumer Credit

Actual Previous Highest Lowest Dates Unit Frequency
-3841.00 877.00 2248.00 -3841.00 1993 - 2020 GBP Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-01-31 09:30 AM Dec £1.218B £0.653B £0.9B £ 0.85B
2020-03-02 09:30 AM Jan £1.23B £1.337B £1.1B £1.0B
2020-03-30 08:30 AM Feb £0.9B £1.11B £1.1B £1.0B
2020-05-01 08:30 AM Mar £-3.8B £0.9B £0.7B £ 0.65B
2020-06-02 08:30 AM Apr £-3.8B £-4.5B £-4.2B
2020-06-29 08:30 AM May £1.5B
2020-07-29 08:30 AM Jun £ 1B
2020-09-01 08:30 AM Jul


News Stream
UK Consumer Credit Falls the Most on Record
Consumer credit in the United Kingdom dropped by GBP 3.8 billion in March 2020, following a GBP 0.9 billion increase in the previous month and compared to market expectations of a GBP 0.7 billion rise. That was the largest decline in consumer credit since the series began in 1993, due to a large fall in new borrowing amid the coronavirus pandemic. Credit card lending fell by GBP 2.4 billion and other loans and advances went down by GBP 1.5 billion. The weak net flows of consumer credit meant that the annual growth rate slowed to 3.7 percent in March, lowest since June 2013.
2020-05-01
UK Consumer Credit Growth Below Forecasts
Consumer credit in the United Kingdom increased by GBP 0.877 billion in February 2020, following a downwardly revised GBP 1.107 billion rise in the previous month and below market expectations of GBP 1.1 billion. Credit card lending was unchanged, after increasing 0.3 percent in the prior month; while other loans advanced 0.6 percent, the same as in January. On a yearly basis, consumer credit went up 5.7 percent, easing from a 6 percent gain in the prior month. Credit card lending rose 3.5 percent (vs 4.3 percent in January); while other loans and advanced increased 6.8 percent (vs 6.9 percent in January).
2020-03-30
UK Consumer Credit Growth Above Forecasts
Consumer credit in the United Kingdom increased by GBP 1.23 billion in January of 2020, following an upwardly revised GBP 1.34 billion rise in the previous month and above market expectations of GBP 1.10 billion. Credit card lending advanced by 0.3 percent, following 0.6 percent gain in December while other loans advanced went up 0.7 percent, after a 0.6 percent in the prior month. On a yearly basis, consumer credit rose 6.1 percent, the same as in the previous month. Credit card lending rose 4.3 percent (from 4.5 percent in December); while other loans and advanced increased 6.9 percent, the same as in the previous month.
2020-03-02
UK Consumer Credit Growth Above Estimates
Consumer credit in the United Kingdom increased by GBP 1.218 billion in December of 2019, beating market expectations of a GBP 0.9 billion gain and following an upwardly revised GBP 0.653 billion rise in the previous month. Credit card lending increased 0.6 percent, after dropping 0.2 percent in November and other loans went up 0.5 percent, the same pace as in the previous month. Year-on-year, consumer credit growth rose to 6.1 percent from an upwardly revised 5.9 percent in November. Credit card lending surged 4.5 percent (from 3.9 percent in November) and other loans advanced 6.9 percent (the same pace as in November).
2020-01-31

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).