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BuyingBear

Consumer Borrowing Growth Slows

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Consumer borrowing growth slows

Borrowing by individuals on credit cards, bank loans and hire purchase agreements is growing at its slowest pace for nearly 12 years.

Figures from the Bank of England show that in January consumer credit was growing at an annual rate of just 8.7%.

The numbers put consumer credit growth at its slowest pace since June 1994.

But other Bank figures show the amount of money being borrowed for mortgages rose by £9.2bn in January, the biggest increase in almost two years.

It seems the housing market is literally devouring other sectors of the economy, most notably retailers.

I for one am glad so much money is flowing into such productive assets that will allow our economy to expand and grow in the future :rolleyes:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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