- UK Jan Net
New Consumer Credit Surprises +£1.56bn
- Almost
Double Jan 2015 Total, and 1.5SDs Above Monthly Average for 2015
- Credit
Card Lending £509mn, Others £1,044mn
- Banks Lent £796mn, Others Lent £661m
- Gross Outstanding Consumer Debt is £179.2bn, up 4.6% yoy
- Gross Consumer Debt is Equivalent to c9.6% of GDP, up from 9.4% in 2014
Comment: Bank of England's data shows steady rise in net additions to consumer credit - but still sharply below what was seen between 2002 to 2005. Meanwhile, data released the same day shows no growth at all in Jan's M4 - no surprise, since it has been essentially unchanged since the beginning of 2010 !
