Property News · January 4, 2016

Rise in consumer borrowing is fastest since pre-crisis levels, says Bank of England


BoE figures show consumer credit was up by 8.3% in the year to November, with borrowing on credit cards up by £411mConsumer borrowing on credit cards, loans and overdrafts is growing at its fastest rate since before the financial crisis, figures from the Bank of England show.Unsecured consumer credit was up by 8.3% in the 12 months to November 2015, the Bank’s figures show, with consumers borrowing an additional £1.5bn in November, compared to an average increase of £1.2bn over the previous six months. The figure was the highest monthly rise since February 2008, and the ninth month running that it has been in excess of £1bn. Continue reading…

Source : theguardian.com
Read more…Rise in consumer borrowing is fastest since pre-crisis levels, says Bank of England

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