UK August mortgage approvals 45.35k vs 45.00k expected

<ul><li>Prior 49.44k; revised to 49.53k</li></ul><p>It is four months in a row now that net borrowing of mortgage debt by individuals have increased, up by £0.2 billion on the month to £1.2 billion in August. Meanwhile, net consumer credit was at £1.6 billion in August, up from £1.3 billion in the previous month. Consumer credit growth did nudge higher to 7.6% year-on-year, up from 7.3% previously. That still shows that the economy is still holding up somewhat despite a slowdown in multiple sectors in Q3.</p>

This article was written by Justin Low at www.forexlive.com.