Home / UK / UK growth rate revised higher; Saudi Arabia downgraded – business live – The Guardian

UK growth rate revised higher; Saudi Arabia downgraded – business live – The Guardian

The extra amount borrowed by consumers in order to buy goods and services fell to £0.9 billion in August, slightly below the £1.0 billion average since July 2018. Within consumer credit, net credit card borrowing weakened on the month to £0.2 billion, the lowest since December 2018. Net borrowing for other loans and advances remained at £0.7 billion.

The annual growth rate of consumer credit continued to slow in August, falling to 5.4%. This remains considerably lower than its peak of 10.9% in November 2016, and is the lowest level since February 2014.

UK growth rate revised higher; Saudi Arabia downgraded – business live – The Guardian

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