Latest data released by the BOE - 29 July 2019
- Prior 65.4k; revised to 65.6k
- Net consumer credit £1.0 billion vs £0.9 billion expected
- Prior £0.8 billion; revised to £0.9 billion
Headline mortgage lending increased to its highest level since January but really the more worrying part of the release here is that consumer credit growth slows down further to just +5.5% y/y from the revised +5.7% y/y reading in May.
That represents the weakest growth in consumer credit since April 2014 still and basically highlights that the UK economy isn't firing on all cylinders whatsoever.
