December 2017 UK mortgage approvals and consumer credit data 30 January 2018

  • Prior 65,139. Revised to 64,712
  • Total mortgage lending 3.683bn vs 3.450bn exp. Prior 3.499bn. Revised to 3.736bn
  • BOE consumer credit 1.520bn vs 1.300bn exp. Prior 1.400bn. Revised to 1.497bn
  • Of which credit card lending 429m vs 606m prior
  • Lending to non-financials -0.954bn vs -1.1849bn prior
  • Of which SME’s -422m vs -35m prior. Revised to -11m
  • M4 money supply -0.6% vs 0.1% prior m/m
  • 3.7% vs 3.7% prior y/y
  • M4 ex-financials 4.7% vs 3.4% 3m ann

A jump in consumer borrowing may look troublesome but it’s not being put on the plastic, which suggests that it’s not for short-term moeny coverage. The SME lending numbers can be a bit volatile but that’s a poor read there. The time of year may be a factor in both of the above.

 

Ryan Littlestone

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Philosophy: “Don’t be a Dick for a tick”

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Ryan Littlestone

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