Overview
- Bank of England data show consumer credit rose by £2.1bn in November, up from £1.7bn in October.
- Annual growth in credit-card borrowing accelerated to 12.1%, with net card borrowing at £1.0bn and other loans at £1.1bn.
- The annual growth rate for overall consumer credit increased to 8.1% in November from 7.5% the previous month.
- Mortgage approvals for house purchase dipped slightly to about 64,500, while net mortgage borrowing climbed to £4.5bn.
- Households boosted deposits by £8.1bn, and economists said budget speculation did little to deter borrowing during the month.