I've updated the UK sectoral data spreadsheets with the Quarter 3 data and the public debt graph now looks like this:
That's right. Pretty much identical to last quarter, which means that the credit accelerator function has leapt back into positive territory - just:
So the trend is broken, and we'll have to wait far too long for more data to see what happens - or delve deeper into the underlying figures.
Source: Office of National Statistics. Private sector debt based on tables NLBC, NKZA, NNQC, NNRE, NNXM, NNWK, NLSY, NLUA, NJCS and NJBQ (Lending and securities per sector, not seasonally adjusted) scaled by BKTL (Gross domestic product at market prices, not seasonally adjusted). Data and calculations are available online