UK mortgage approvals October 2017 64,575 vs 65,000 exp

October 2017 UK mortgage approvals and Bank of England consumer credit report 29 November 2017

Prior 66,232
Mortgage lending 3.392bn vs 3.600bn exp. Prior 3.848bn
Total lending 4.842bn vs 5.237bn prior
BOE consumer credit 1.541bn vs 1.500bn exp. Prior 1.606bn
Of which credit card lending 394m vs 641m prior. Revised to 617m
Total lending non-financials 557m vs -1.389bn prior. Revised to -1.405bn
Of which SME’s -399m vs -438m prior. Revised to +442m
M4 money supply 0.65 vs -0.25 prior m/m. Revised to -0.1%
4.1% vs 4.85 prior y/y
Ex-financials 0.2% vs 0.2% prior m/m
4.2% vs 4.5% prior y/y

Steady numbers here and nothing to rock the boat. A bit volatile in the business lending component, what with the huge revision. Credit growth is at an 18 month low so at least folks aren’t getting themselves in trouble. However, the flip side is that could mean weaker consumer demand, i.e lower retail sales.

GBPUSD not doing much but it’s 5 pips under 1.3400 now.