For June 2006, credit card borrowing fell by .1 billion GBP in the UK.
This is a reflection of weakening retail sales and is part of a trend of
unsecured card spending over the past two years. The total credit card
spending was GBP 6,983,000 for the month, a 4% decline since last
year, and a net lending decrease of 73million GBP.
June’s gross mortgage lending of GBP21.5bn, the highest figure ever, was a
reflection of strong re-mortgaging activity. This was, however, only 5%
higher than a year earlier, suggesting that in real terms, lending
growth is slackening.