1012 GMT - Bank of England money and credit data show little evidence that global tariff uncertainty have made households more cautious with their borrowing and spending, Capital Economics' Ruth Gregory says. The 1.6 billion pound rise in consumer credit in April, from 1.1 billion pounds in March, suggests tariffs didn't put consumers off borrowing last month, she says in a note. That should additionally reassure that the 1.2% surge in retail sales in April didn't come at the expense of non-retail spending. Overall, this provides encouragement that the U.K. economy should avoid a contraction in the second quarter of the year, she says. (edward.frankl@wsj.com)

(END) Dow Jones Newswires

June 02, 2025 06:12 ET (10:12 GMT)

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