Pursuits
U.K. Consumer Borrowing Remains Below Average as Confidence Ebbs
- Consumer credit increased by 1.4 billion pounds in January
- Figures suggest squeeze from rising prices is being felt
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U.K. consumer credit remained below average in January, reinforcing a picture of weakening confidence as inflation bites.
Unsecured lending rose by 1.4 billion pounds ($1.7 billion) from December, below the 1.6 billion pounds averaged over the previous six months, according to Bank of England data published on Wednesday. On an annual basis, credit growth slowed to 10.3 percent, the least since August last year.