FX.co ★ UK Consumer Credit Growth Tops Forecasts

Net borrowing of consumer credit by individuals in the UK edged up to £2.0 billion in July 2026 from £1.9 billion in June, exceeding market expectations of £1.8 billion. This marked the highest level since November of the previous year and stood marginally above the prior six-month average of £1.9 billion. Breaking this down, net credit card borrowing eased to £0.9 billion in July from £1.0 billion in June, while borrowing via other forms of consumer credit – including car finance and personal loans – rose to £1.1 billion from £0.9 billion. On an annual basis, the growth rate of total consumer credit ticked up to 9.2% in July from 9.1% in June. Over the same period, the annual growth rate of credit card borrowing was unchanged at 12.5%, while the annual growth rate for other types of consumer credit edged higher to 7.7% from 7.6% in June.