Annual consumer credit growth rose to 9.1%, the fastest since July 2018, while mortgage approvals for house purchases increased to 58,200 in June.
UK households borrowed a net £1.807 billion in consumer credit in June, up from a revised £1.723 billion in May and above economists' median forecast of £1.7 billion. The annual growth rate of unsecured lending accelerated to 9.1%, the fastest pace since July 2018. Separately, British lenders approved 58,200 mortgages for house purchase in June, up from 56,565 in May and above the Reuters poll median forecast of 57,100, adding to signs of firm household borrowing demand.