Tuesday, August 07, 2012
The Bank of England has
published figures on lending to individuals. Total
lending to individuals rose by £0.3 billion in June, compared to
the previous six-month average increase of £1.3 billion. The
twelve-month growth rate was unchanged at 1.0%.
Total lending to individualsrose by £0.3
billion in June, compared to the previous six-month average
increase of £1.3 billion. The twelve-month growth rate was
unchanged at 1.0% (Table A).
Within total lending, lending secured
on dwellingsfell by £0.4 billion,
compared to the previous six-month average increase of £0.9
billion. The three-month annualised growth rate
decreased by 0.3 percentage points to 0.3% whilst the twelve-month
growth rate was unchanged at 0.8%.
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Gross lending secured on dwellingswas
£11.0 billion in June (Table B), compared to the previous six-month
average of £12.2 billion. Repaymentsin
June were £11.1 billion, compared to the previous six-month average
of £11.5 billion.
(1)
With the 28 May 2012 bank holiday moving to 4 June and
an additional bank holiday on 5 June, to
celebrate the
Queen's Diamond Jubilee, care should be taken when interpreting or
comparing the
data
points around this period. The seasonal adjustment process has not
automatically taken this
effect into
account.Once additional monthly data are available,
the Bank of England
will
investigate
the effect and judge whether refinements to the seasonal adjustment
process are
appropriate.
The number of loan approvals for house
purchase (44,192) fell in June (Table C) and was lower
than the previous six-month average (51,993). The number of
approvals for remortgaging (24,117) also
decreased in June and was again lower than the previous six-month
average (29,912). The number of approvals for other
purposes were similarly lower in June (15,367) and
below the previous six-month average (18,887).
Consumer credit(2)
increased by £0.6 billion in June (Table D), compared to the
previous six-month average of £0.4 billion. The twelve-month growth
rate was 2.4%. Within consumer credit, credit card
lending increased by £0.2 billion and
other loans and advances increased by £0.4
billion.
(2) Please see Notes to Editors 5 for details of
forthcoming changes to consumer credit data
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