Investing.com - Net lending to individuals in the U.K. fell less-than-expected in May, official data showed on Monday.
In a report, the Bank of England said total net lending to individuals fell to GBP1.0 billion in May from a revised GBP1.3 billion in April.
Analysts had expected net lending to increase to GBP1.4 billion in May.
The report also showed that the number of final mortgage approvals rose to 58,000 in May from 54,000 in April, above expectations for an increase to 56,000.
Following the release of the data, the pound spiked higher against the U.S. dollar, with GBP/USD adding 0.21% to trade at 1.5239.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 fell 0.3%, France’s CAC 40 shed 0.3%, Germany's DAX dropped 0.8%, while London’s FTSE 100 eased up 0.1%.
In a report, the Bank of England said total net lending to individuals fell to GBP1.0 billion in May from a revised GBP1.3 billion in April.
Analysts had expected net lending to increase to GBP1.4 billion in May.
The report also showed that the number of final mortgage approvals rose to 58,000 in May from 54,000 in April, above expectations for an increase to 56,000.
Following the release of the data, the pound spiked higher against the U.S. dollar, with GBP/USD adding 0.21% to trade at 1.5239.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 fell 0.3%, France’s CAC 40 shed 0.3%, Germany's DAX dropped 0.8%, while London’s FTSE 100 eased up 0.1%.