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UK consumers upped borrowing in November by most in 16 months

by Mike Robinson

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© Reuters. FILE PHOTO – General view of Bank of England, London, Britain. October 22, 2021. REUTERS/Tom Nicholson

LONDON (Reuters] – British customers increased borrowing by at least 5% in November, according to Bank of England data released Tuesday.

The net increase in consumer credit was 1.233 billion Pounds ($1.67 Billion), which is higher than the median estimate from Reuters for an 800 Million Pound increase.

Data also revealed that mortgage approvals in Britain were at their lowest level since June 2020, when a tax cut for homeowners expired.

($1 = 0.7403 pounds)

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