Investing.com - Net lending to individuals and households in the U.K. rose less than expected in April, reflecting weaker demand for credit, official data showed on Monday.
In a report, the Bank of England said total net lending to individuals increased by ₤2.4 billion in April, compared to forecasts for net lending of ₤2.7 billion and down from ₤2.8 billion in March.
Net secured lending rose by ₤1.7 billion, below expectations for an increase of ₤1.8 billion, after rising by ₤1.8 billion in March.
Net consumer credit, including personal loans, overdrafts, and credit card lending, increased by ₤0.7 billion, compared to ₤1.0 billion in the previous month.
Meanwhile, the M4 Money Supply decreased 0.2% in April, following a 2.3% decline in March. Analysts expected a 0.3% increase.
The report also showed that the number of final mortgage approvals fell to 63,000 in April from 67,000 in March. Economists had expected mortgage approvals to decline to 65,000.
Following the release of the data, the pound trimmed losses against the U.S. dollar, with GBP/USD shedding 0.06% to trade at 1.6744, compared to 1.6730 ahead of the data.
Meanwhile, European stock markets were mixed. London’s FTSE 100 eased up 0.25%, the Euro Stoxx 50 increased 0.1%, France’s CAC 40 dipped 0.2%, while Germany''s DAX edged 0.15% higher.
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