Business · 29 July 2026
UK consumer borrowing grows at its fastest annual rate in almost eight years
Net lending jumped by more than £1.8 billion in June, pushing the yearly growth rate up to 9.1%. Strong retail sales for summer clothes, alcohol and snacks during the football World Cup helped drive the spending spree. The Bank of England also reported that net mortgage borrowing hit £7.7 billion, its highest level since March 2025.
Reported by Reuters · How we write briefs