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sharp-slowdown

UK mortgage approvals pick up in December, consumer credit slows

British mortgage approvals rose in December for the first time since June, the Bank of England said on Friday, suggesting that a steady slowdown in the number of loans for home purchases could be bottoming out. Data from the BoE also showed a sharp slowdown in December in borrowing by British consumers whose spending has driven the country's economic recovery. The BoE said mortgage approvals for …