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UK consumers slow pace of borrowing – Bank of England data

British consumers increased their borrowing by less than expected in July in a possible sign of caution among households as borrowing costs rise, Bank of England data showed on Wednesday.

Unsecured lending to consumers rose by 1.191 billion pounds ($1.51 billion) in net terms, less than the 1.3 billion-pound increase which was the median forecast in a Reuters poll of economists, and down from the 1.637 billion pounds rise in June.

The pace of growth in consumer credit over the 12 months to July slowed to 7.3%, the slowest increase since December last year.
Source: Reuters (Reporting by William Schomberg; editing by David Milliken)

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