New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business held steady in August, and grew by 1% in the twelve months to August, compared with the same period last year.

Retail store and online credit new business in August was at a similar level to the same month in 2018, while new business provided through credit cards and personal loans together fell by 1%.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said “Consumer finance new business fell by 1% in the eight months to August, in line with expectations.”

“We continue to expect this market to report broadly stable new business in 2019 as a whole compared with 2018.”

Table 1: New consumer credit lending

Aug 2019

% change on prev. year

3 months to Aug 2019

% change on prev. year

12 months to Aug2019

% change on prev. year

Total FLA consumer finance (£m)

8,115

0

25,348

0

102,942

+1

Data extracts:

Retail store and online credit (£m)

637

0

1,991

+1

8,716

+2

Credit cards & personal loans (£m)

4,419

-1

13,141

-2

51,503

0

Second charge mortgages (£m)

102

+10

321

+14

1,191

+17

Car finance (£m)

2,515

0

8,703

+1

37,420

+2