Gross issuance by UK residents increased sharply in May, outpacing both April and the six-month average.
UK residents issued £78.1 billion in gross capital in May, up from £72.5 billion in April and above the six-month average of £66.0 billion. The rise reflects stronger borrowing activity amid improving market conditions.
Net capital issuance reached £7.8 billion, compared with £5.0 billion in April and a six-month average of £5.4 billion. The £2.9 billion increase was driven by a £5.6 billion rise in gross issuance, partially offset by £2.7 billion in higher repayments.
Year-to-date gross issuance totaled £362.1 billion, £29.5 billion above the same period last year and £81.5 billion higher than the four-year average.