November 2017 UK mortgage approvals and BOE consumer credit report 4 January 2018
- Prior 64,575. Revised to 64,887
- Total mortgage lending 3.499bn vs 3.400bn exp. Prior 3.392bn. revised to 3.348bn
- BOE consumer credit 1.400bn vs 1.500bn exp. Prior 1.451bn. Revised to 1.362bn
- Of which credit card lending 606m vs 394m prior. revised to 384m
- M4 money supply 0.1% vs 0.6% prior
A jump in credit card borrowing shouldn’t be unexpected as Nov is now one of the main retail spending months. The drop in total lending to non-financial firms could just be seasonal too.