Key points from the data to the end of January 2017 include:
Part one: Broad money and credit: aggregate, sectoral and industrial detail
- Broad money, M4 excluding intermediate other financial corporations, increased by £2.4 billion in January (Table A) with positive flows for households’ and private non-financial corporations’ (PNFC) M4 (Tables B-D). The non-intermediate other financial corporation (NIOFC) M4 flow was negative in January and lower than the recent average.
- Sterling lending to the UK private sector excluding intermediate other financial corporations, M4Lex, decreased by £3.7bn in January (Table A). Positive net lending to households and PNFCs, with PNFCs being above the recent average, was offset by a strong negative flow for NIOFCs (Tables B and D).
Part two: Lending to individuals: lending secured on dwellings and consumer credit
- Lending secured on dwellings rose by £3.4 billion in January. Gross lending and repayments both increased and were above their recent averages (Table H).
- Approvals of loans secured on dwellings for house purchase increased for the fourth consecutive month and, at 69,928, were the highest since February 2016 (Table I).
- The net flow of consumer credit was £1.4 billion in January (Table J). The twelve-month growth rate ticked down to 10.3% (Chart 9).
Part three: Lending to businesses: net finance raised and loans to businesses, split by size of business
- PNFCs’ net finance raised from monetary financial institutions and capital markets was £3.3 billion in January (Table L).
- Loans to large non-financial businesses increased by £3.9 billion in January, compared to the recent average of £0.5 billion (Table M). Loans to small and medium-sized enterprises (SMEs) decreased by £0.2 billion.