(Reuters) – British lenders accepted fewer mortgages than anticipated in November and client lending elevated on the weakest tempo since mid-2022, in line with Financial institution of England information that chimed with different indications of a slowing economic system.
Mortgage approvals fell to 65,720 mortgages in November from 68,129 in October, the bottom studying since August.
A Reuters ballot of economists had pointed to approvals of round 68,500.
The information additionally confirmed a smaller-than-expected web enhance in client lending, which fell to 878 million kilos ($1.09 billion) in November from 995 million kilos in October – marking the smallest enhance since June.
The annual development fee of client credit score cooled in November to six.6% from 7.3%, the slowest tempo since June 2022, the BoE information confirmed.
($1 = 0.8064 kilos)
