Investing.com – Net lending to individuals in the U.K. rose slightly more-than-expected in September, official data showed on Tuesday.
In a report, the Bank of England said net lending to individuals rose by GBP1.0 billion in September, just above expectations of GBP0.9 billion.
Net lending to individuals rose by an unrevised GBP1.0 billion in August.
Net consumer credit rose by GBP0.6 billion, outstripping expectations for a GBP0.4 billion gain.
The report showed that the number of final mortgage approvals fell in line with expectations in September, declining to 51K from 52K in August.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD slumping 0.67% to trade at 1.6018.
Meanwhile, European stock markets were broadly lower. The FTSE 100 dropped 1.3%, the EURO STOXX 50 tumbled 1.65%, France’s CAC 40 fell 1.8%, while Germany's DAX retreated 1.4%.
In a report, the Bank of England said net lending to individuals rose by GBP1.0 billion in September, just above expectations of GBP0.9 billion.
Net lending to individuals rose by an unrevised GBP1.0 billion in August.
Net consumer credit rose by GBP0.6 billion, outstripping expectations for a GBP0.4 billion gain.
The report showed that the number of final mortgage approvals fell in line with expectations in September, declining to 51K from 52K in August.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD slumping 0.67% to trade at 1.6018.
Meanwhile, European stock markets were broadly lower. The FTSE 100 dropped 1.3%, the EURO STOXX 50 tumbled 1.65%, France’s CAC 40 fell 1.8%, while Germany's DAX retreated 1.4%.