Money and Credit - May 2017

Our monthly Money and Credit statistical release is made up of three parts: broad money and credit, lending to individual and lending to businesses.
Published on 29 June 2017

Key points from the data to the end of May 2017 include:

Part one: Broad money and credit: aggregate, sectoral and industrial detail

  • Broad money increased by £8.1 billion in May (Table A). While the 12-month growth rate for broad money overall has been at around the current level since November 2016, the growth in households' money has continued to weaken and private non-financial corporations’ (PNFCs’) has strengthened. In May, households' money fell by £0.1 billion (Table B), this being the weakest flow since January 2015. In contrast, M4 flows for PNFCs and non-intermediate other financial corporations (NIOFCs) were higher than their recent averages (Tables C-D).
  • Sterling lending to the UK private sector excluding intermediate other financial corporations increased by £11.0 billion in May (Table A). Net lending flows to all sectors were higher than last month (Tables B-D).

Part two: Lending to individuals: lending secured on dwellings and consumer credit

  • Net lending secured on dwellings was £3.5 billion in May, slightly higher than its recent average (Table H).
  • Mortgage approvals for house purchase were broadly stable at 65,202, while approvals for remortgaging increased slightly to 42,955 (Table I).
  • Annual growth in consumer credit remained strong at 10.3% in May, although below its peak in November 2016 (Table J).

Part three: Lending to businesses: net finance raised and loans to businesses, split by size of business

  • PNFCs borrowed £2.8bn from UK MFIs and capital markets in May, with the largest contribution coming from loans (Table L).
  • Loans to large non-financial businesses increased by £3.5 billion in May (Table M). Businesses in the manufacturing and wholesale & retail industries were large contributors (Table O). Loans to small and medium-sized enterprises were broadly unchanged (Table M).

PDF Money and Credit - May 2017

Excel Tables A-O

PDF Highs and lows

Next release date: 31 July 2017

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