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2025-07-29 18:50:10
[UK Credit Surge: Can a Recovering Housing Market Help GDP Growth Recover?] ⑴ On July 29th, Pantheon Macroeconomics economist Elliott Jordan-Doak noted that a significant increase in UK credit and mortgage approvals in June suggests that household spending may strongly support GDP growth in the second half of the year. ⑵ Specific data showed that net consumer credit reached £1.4 billion in June, far exceeding the average forecast of £900 million in May. ⑶ In addition, mortgage approvals increased by approximately 900 cases month-on-month to 64,167. ⑷ Jordan-Doak analyzed that consumer credit flows have remained broadly stable since the beginning of the year, and this pattern shows little sign of changing in the short term. ⑸ He further stated that the UK real estate market is recovering rapidly from the impact of the stamp duty increase in last year's budget. ⑹ These positive data suggest that despite economic challenges, the UK's credit market and real estate activity are providing new momentum for economic growth, worthy of close market attention.
