UK Mortgage Approvals Fall to 56,200 in May While Consumer Credit Growth Edges Higher

UK mortgage approvals totaled 56,200 in May, below the 63,000 estimate and the previous reading of 65,900, @LiveSquawk reported. Net lending secured on dwellings reached 2.9 billion pounds, compared with an expected 4.2 billion and the prior 4.4 billion. Net consumer credit increased by 1.7 billion pounds against a 1.8 billion forecast and 1.9 billion previously.

Year-over-year consumer credit growth edged up to 8.9 percent from 8.8 percent.