Tuesday, Aug 01, 2006

Doubts raised over durability of consumer recovery

TimesOnline: Credit card weakness may signal flagging recovery

Credit card borrowing is at its lowest level for nearly 12 years. The decline may indicate a consumer preference for cheaper borrowing against the value of their homes but economists argue that the decline may be an indication that Britain 1 trillion personal debt burden may be weighing them down. However with retailers indicating that consumers are returning to the high street it may suggest that consumers are buying goods against the value of their homes.

Posted by denzil @ 09:32 AM (395 views)
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