Investing.com - Net lending to individuals and households in the U.K. rose less than expected in June, reflecting weaker demand for credit, official data showed on Tuesday.
In a report, the Bank of England said total net lending to individuals increased by ₤2.5 billion last month, below forecasts for net lending of ₤2.6 billion and down from ₤3 billion in May.
Net secured lending rose by ₤2.1 billion in June, above expectations for an increase of ₤1.9 billion, after rising by ₤2.3 billion in May.
Net consumer credit, including personal loans, overdrafts, and credit card lending, increased by ₤0.42 billion, compared to ₤0.72 billion in May.
Meanwhile, the M4 Money Supply inched up 0.1% in June, following a 0.1% decline in May.
The report also showed that the number of final mortgage approvals rose to 67,000 in June from 62,000 in May. Economists had expected mortgage approvals to increase to 63,000.
Following the release of the data, the pound held on to modest losses against the U.S. dollar, with GBP/USD shedding 0.03% to trade at 1.6979.
Meanwhile, European stock markets were mixed. London’s FTSE 100 eased up 0.1%, the DJ Euro Stoxx 50 declined 0.2%, France’s CAC 40 slumped 0.3%, while Germany's DAX inched down 0.2%.