020 7898 0500Figures released from the Bank of England yesterday showed that UK mortgage approvals rose to 65,619 in June from 64,684 the month before. It was slightly higher than the markets had been expecting and showed the highest amount of approvals for five months.
Meanwhile, annual credit card growth stood at 9.5% in June, with some economists reporting that this is more because of pressure on consumers’ finances, as opposed to increased confidence in their future incomes.
Today we will see Gfk consumer confidence for July which is expected to remain at -9. Last time, the figure fell unexpectedly from -7 as optimism about the UK economy over the next 12 months waned. It will be interesting to see if confidence has fallen further.
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