- Prior 0.915bn. Revised to 0.942bn
- Mortgage lending 1.496bn vs 1.750bn exp. Prior 1.809bn revised to 1.728bn
- Mortgage approvals 59,426 vs 59,500 exp. Prior 61,267 revised to 61,234k
- M4 money supply -0.1% vs 0.7% prior m/m
- -2.6% v s-2.5% prior y/y. Lowest since Nov 2012
- Lending to non-financials -1.920bn vs -0.813bn prior. Lowest since June 2014
Continued pressure coming into the mortgage market following the new rules and that’s not such good news regarding a big jump in credit, rising at the fastest pace since the GFC. credit was up 6.4% y/y and the highest since July 2006. There’s to be some expectation of credit rising as the jobs market improves and confidence rises but we do not want to be getting back into the mess that we were in before the crisis. We’d better start seeing some wages gains or there’s going to be trouble ahead.
UK consumer credit 01 12 2014
