Details of the March 2017 UK mortgage lending and consumer credit data report 4 May 2017
Prior 68,315. Revised to 67,936
Mortgage lending 3.105bn vs 3.400bn exp. Prior 3.489bn. Revised to 3.386bn
BOE Consumer credit 1.624bn vs 1.200bn exp. Prior 1.441bn. Revised to 1.476bn
Credit card lending 490m vs 562m prior. Revised to 559m
M4 money supply 03% vs -0.3% prior m/m. Revised to -0.2%
6.6% vs 5.7% prior y/y. Revised to 5.9%
M4 ex-financials 4.5% vs 4.0% prior 3m ann. Revised to 4.7%
Although consumer credit rose in March, it's being spun as falling by the news wires on the basis that y/y credit came in at 10.2% vs 10.5% in Feb.
Consumer credit is going to be an important number to watch to see how the squeeze from inflation is taking hold. If disposable income gets tighter as prices rise, people will tend to turn to the plastic.
On the mortgage front, we're still seeing solid numbers despite the shouts that the UK housing market is facing trouble due to falling prices.
BOE consumer credit
