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Bloomberg
UK demand for unsecured debt stabilised last month while mortgage approvals increased, Bank of England figures show.
While households have been tightening their belts this year as Brexit clouds the outlook, the June figures suggest consumers, the mainstay of economic growth, are still willing to spend. Retail sales unexpectedly surged after two months of declines, ONS figures showed.
Mortgage approvals rose to 66,440 from 65,647 in May. Actual mortgage lending rose by $4.5 billion, above the average of the previous six months. Consumer credit rose 5.5 percent from a year earlier, the weakest pace since March 2014.