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.

Ryan Littlestone

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