UK July mortgage approvals 63.77k vs 61.73k expected

  • Latest data released by the BOE - 30 August 2022
  • Prior 63.73k; revised to 63.18k
  • Net consumer credit £1.4 billion
  • Prior £1.8 billion

Looking at the details, consumer credit growth was seen at 6.9% in July - the highest since March 2019. Meanwhile, credit card borrowing was up 13.0% - the highest since October 2005. The former may still have some base effects to sort out but the latter is a bit of a yellow flag amid the ongoing cost-of-living crisis in the UK.

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