Investing.com - Net lending to individuals in the U.K. rose less-than-expected in December, official data showed on Tuesday.
In a report, the Bank of England said net lending to individuals rose by GBP0.4 billion in December, below expectations for GBP1.2 billion and down from an unrevised GBP1.0 billion.
Net consumer credit declined by GBP0.4 billion December, confounding expectations for a GBP0.4 billion increase, after rising by GBP0.4 billion in the preceding month.
It was the biggest monthly fall since 1999.
The report also showed that the number of final mortgage approvals was unchanged in line with expectations in December, holding steady at 53,000.
Following the release of that data, the pound remained higher against the U.S. dollar, with GBP/USD gaining 0.33% to trade at 1.5762.
Meanwhile, European stock markets were held on to gains. London’s FTSE 100 added 0.5%, the EURO STOXX 50 rallied 0.95%, France’s CAC 40 rose 1.1%, while Germany's DAX advanced 1%.
In a report, the Bank of England said net lending to individuals rose by GBP0.4 billion in December, below expectations for GBP1.2 billion and down from an unrevised GBP1.0 billion.
Net consumer credit declined by GBP0.4 billion December, confounding expectations for a GBP0.4 billion increase, after rising by GBP0.4 billion in the preceding month.
It was the biggest monthly fall since 1999.
The report also showed that the number of final mortgage approvals was unchanged in line with expectations in December, holding steady at 53,000.
Following the release of that data, the pound remained higher against the U.S. dollar, with GBP/USD gaining 0.33% to trade at 1.5762.
Meanwhile, European stock markets were held on to gains. London’s FTSE 100 added 0.5%, the EURO STOXX 50 rallied 0.95%, France’s CAC 40 rose 1.1%, while Germany's DAX advanced 1%.