A recent report noted that consumer credit growth in the UK has slowed down. Annual growth in July slowed down from 10.0 to 9.8 per cent. This is the weakest gain since April of 2016. With respect to cash, consumer credit went up by 1.179 billion pounds, well below the anticipated increase of 1.5 billion. The report noted that mortgages totaled 68,000 in July, which was more than anticipated. But the value increased by only 3.6 billion pounds, compared to 4.1 in June. Economists predicted a less robust market for housing.

Read more: UK consumer credit growth hits more than 1-year low in July, mortgage approvals surge – Nasdaq