Prior 55.23k; revised to 56.09kNet consumer credit £1.4 billion vs £1.6 billion expectedPrior £1.9 billion; revised to £1.8 billion
Individuals borrowed, on net, £1.5 billion of mortgage debt in February, compared to the £1.1 billion of net repayments in January. Meanwhile, consumer credit growth fell slightly to 8.7% in February as opposed to the 9.0% reading in January. It is still a good reading but it only speaks to how poor economic conditions were for the better part of last year.
This article was written by Justin Low at www.forexlive.com.