UK March mortgage approvals 56.2k vs 58.0k expected

Author: Justin Low | Category: News

Latest data released by the BOE - 1 May 2020


  • Prior 73.5k
  • Net consumer credit -£3.8 billion vs £0.7 billion expected
  • Prior £0.9 billion
See here for global coronavirus case data
Slight delay in the release by the source. The thing that stands out from the report here is that consumer credit growth sees a further slowdown to just +3.7% y/y from +5.8% y/y previously in February, marking the weakest growth since June 2013.

That shows that the economy is slowly running itself into the ground amid the virus outbreak and lockdown measures weighing on business and consumer activity/sentiment.

But at least broad money growth is expanding amid stimulus measures by the BOE and the government, rising by 8.1% on an annual basis - the biggest increase since April 2017.

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