UK May mortgage approvals 9.3k vs 25.0k expected
Latest data released by the BOE - 29 June 2020
- Prior 15.8k; revised to 15.9k
- Net consumer credit -£4.6 billion vs -£3.0 billion expected
- Prior -£7.4 billion
Slight delay in the release by the source. Following the record low in mortgage approvals in April, the month of May broke that record as seen with the headline reading.
Net consumer credit continues to suffer for the most part with consumer credit growth seen contracting by 3.0% year-on-year. That sort of tells the story that the UK economy isn't quite in good shape amid the fallout from the virus outbreak and lockdown measures.
Let's see how things go in the coming months and the pace of the improvement.