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Mubasher: Growth in consumer loans in the UK slowed to a five-year low on an annual basis last month.
Data from the Bank of England show that consumer loans rose 5.5% in June, up from 5.7% in May.
The growth rate of consumer loans in Europe's second-largest economy last month is the slowest since April 2014.
The additional amount borrowed by consumers to buy goods and services amounted to 1 billion pounds last month, against 0.9 billion the previous month, according to the British Central Bank.
Net borrowings on other loans and advances increased to £ 0.8 billion in June, the highest level since April, while credit card loans rose to £ 0.3 billion.
Over the twelve-month period ending in June, net consumer borrowings averaged £ 1 billion a month, compared to £ 1.5 billion in June 2018.
According to the data, household net mortgage loans reached 3.7 billion pounds last month, a level close to the average of the past three years, compared with 2.9 billion pounds the previous month.
The annual growth rate of mortgages remained stable at 3.1% last month.
The number of approvals for home mortgage applications has increased from 800 in June to reach 66,400.
At 11:04 GMT, the pound was down 0.6% to 1.2313 USD.
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