In May 2025, UK mortgage approvals rose to 63,032, surpassing forecasts of approximately 60,800 and slightly exceeding the previous month's 60,500. Consumer credit growth slowed to 6.5% year-over-year, with net consumer credit at £0.9 billion, below expectations and prior figures. Net lending secured on dwellings was £2.1 billion, underperforming forecasts. In Australia, the June 2025 NAB business conditions index increased to 9 from 0, and business confidence rose to 5 from 2, indicating an improved business outlook. However, the Australian labor market showed mixed signals: unemployment rose to 4.3% in June, higher than the forecasted 4.1%, with employment change at 2,000, below the expected 20,000. Full-time employment declined by 38,200, while part-time employment increased by 40,200. The participation rate edged up to 67.1%. In the UK, June 2025 public finances revealed a borrowing deficit of £20.7 billion, exceeding forecasts of £17.5 billion and up £6.6 billion from June 2024. This borrowing increase was driven by a surge in debt interest payments, which nearly doubled to £16.4 billion compared to the previous year. The central government net cash requirement stood at £15.8 billion, down from £24.1 billion the month before. The higher-than-expected borrowing figures present challenges for Chancellor Rachel Reeves ahead of the upcoming budget. Meanwhile, HM Revenue and Customs reported a £9 billion increase in income tax and National Insurance receipts compared to the previous year.