- Prior 70.7k
- Net consumer credit £1.4 billion vs £1.2 billion expected
- Prior £1.3 billion
Net borrowing of mortgage debt by individuals decreased to £4.1 billion in April, down from £6.4 billion in March. That continues to keep below the 12-month average before the pandemic i.e. February 2020. Meanwhile, consumers borrowed an additional £1.4 billion in consumer credit, on net, of which £0.7 billion was new lending on credit cards.
A positive takeaway is that the annual growth rate for all consumer credit increased to 5.7% in April from 5.2% in March - the highest since February 2020 (though base effects are also at play).
