Latest data released by the BOE - 31 May 2019

  • Prior 62.3k; revised to 62.6k
  • Net consumer credit £0.9 billion vs £1.0 billion expected
  • Prior £0.5 billion; revised to £0.6 billion

Of note, consumer credit growth came in at +5.9% y/y which is a drop compared to the March reading of +6.4% y/y. This represents the weakest pace of consumer credit growth since June 2014 and that highlights some concerns about the health of the UK economy - besides the general Brexit uncertainty that is.