British consumer lending surge slows to the weakest value since 2015

British consumer lending surge slows to the weakest value since 2015

UK customers stepped up their borrowing by the smallest amount since mid-2015 for the three months to November. The fact suggests UK households are slowly decreasing spending, as Bank of England figures revealed on Thursday.

Britain's economy had lackluster surge for most of the previous year - especially compared to its faster-ascending neighbors - and Thursday's BoE data hints this pattern kept unrolling toward the end of 2017.

The country’s major financial institution told unsecured consumer lending for the three months to November ascended at an annualized rate of 8.5%, sliding from 9.3% for the three months to October and also its weakest reading since June 2015.

The Bank of England played down any hint at a debt bubble, although it has acknowledged pockets of risk and also required financial institutions to set aside more funds against the risk of bad loans.

In cash term, in November, borrowing soared by 1.4 billion pounds, versus experts’ estimates of a 1.5 billion pound soar in a Reuters survey.

Similar

German ZEW economic sentiment tacks on in January

In January, German economic sentiment inched up more than anticipated, while the current conditions index reached a record maximum, driving optimism over the strength of the EU’s number one economy, as industry data reported on Tuesday…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera