U.K. consumer credit in October grew at an 8.2% annual rate to £177.1 billion, driven by continued robust spending.
Within consumer credit, credit card lending increased by 5.6% year-on-year (YOY) to £62.8 billion and other loans/ advances increased by 9.6% YOY to £114.3 billion. All figures are seasonally adjusted.
The Bank of England says both subsets of consumer credit are in line with the average monthly increase over the previous six months.
CREDIT CARD LOANS
Jul 2015: £62.6 billion +5.6% YOY
Aug 2015: £62.5 billion +5.6% YOY
Sept 2015: £62.7 billion +6.0% YOY
Oct 2015: £62.8 billion +5.6% YOY
Jul 2015: £113.5 billion +9.1% YOY
Aug 2015: £114.3 billion +9.4% YOY
Sept 2015: £113.5 billion +9.5% YOY
Oct 2015: £114.3 billion +9.6% YOY
TOTAL CONSUMER CREDIT
Jul 2015: £176.1 billion +7.8% YOY
Aug 2015: £176.8 billion +8.0% YOY
Sept 2015: £176.2 billion +8.2% YOY
Oct 2015: £177.1 billion +8.2% YOY
Source: Bank of England
Note: Lending to individuals is split between lending secured on dwellings (mortgages) and consumer credit. Consumer credit is further split between credit card debt and other loans and advances. Student loans are excluded.
For data, background and forecasts on U.K. Consumer Credit: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
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