2026.03.3008:51:21UTC+00UK Consumer Credit Growth Tops Forecasts

Net consumer credit borrowing by individuals in the UK rose to £1.9 billion in February 2026, up from an upwardly revised £1.8 billion in January and exceeding market expectations of a £1.6 billion increase. This was the highest figure since November and came in slightly above the six-month average of £1.8 billion. Net borrowing in other forms of consumer credit—such as car dealership finance and personal loans—climbed to £1.2 billion in February from £0.9 billion in January. By contrast, net borrowing on credit cards eased to £0.8 billion, down from £0.9 billion in the previous month. On an annual basis, the growth rate of total consumer credit accelerated to 8.5% in February from 8.3% in January. Over the same period, the annual growth rate of credit card borrowing edged down to 12.1% from 12.3%, while the annual growth rate for other types of consumer credit ticked up to 6.9% from 6.6%.