Consumer credit growth in the United Kingdom slowed in May 2026, signaling a modest cooling in household borrowing momentum. According to the latest Bank of England data, released on 29 June 2026, consumer credit rose by 1.662 billion pounds in May, down from 1.859 billion pounds in April.
The easing suggests that UK consumers may be turning slightly more cautious after a stronger April, as the pace of new borrowing moderates. While consumer credit continues to expand, the softer May reading could be interpreted as an early sign of stabilisation in demand for unsecured lending, which is closely watched as an indicator of household confidence and spending capacity.
Market participants and policymakers are likely to monitor upcoming releases to assess whether May’s slowdown represents a temporary adjustment or the beginning of a more sustained deceleration in consumer borrowing across the UK economy.
