U.K. mortgage approvals declined in May after rising in the prior month, the Bank of England reported Tuesday.
The number of mortgages approved for house purchases in May fell to 51,098 from 51,627 in April. Economists were forecasting a level of 50,000.
Lending to individuals rose by GBP 1.3 billion in May or 0.1 percent from the prior month. Likewise, lending secured on dwelling increased GBP 0.6 billion. On a monthly basis, secured lending remained flat, but rose 0.8 percent annually.
The monthly increase in consumer credit came was GBP 0.7 billion or 0.4 percent in May. On an annual comparison, consumer credit climbed 2.4 percent.
In a separate report, the BoE said M4 money supply declined by 0.1 percent month-on-month in May, following a 0.9 percent rise in April. Annually, money supply dropped 4.1 percent, slightly faster than the 4 percent decline in the prior month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.