U.K. mortgage approvals unexpectedly declined in March, after rising in the previous three months, data from the Bank of England showed Friday.
The number of loan approvals for home purchase fell to 61,341 from a six-month high of 61,523 in February. Economists had expected a higher figure of 62,500.
In January, mortgage approvals were 60,503.
Consumer credit grew by GBP 1.2 billion from the previous month to GBP 170.2 billion. That exceeded the GBP 0.8 billion increase forecast by economists.
Secured lending rose by GBP 1.8 billion, same as in February. That was in line with economists’ expectations.
The report also said that M4 money supply grew 0.3 percent month-on-month in March following a 0.2 percent fall in February. On a year-on-year basis, M4 declined 0.6 percent after a 3.2 percent slump in the previous month.
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