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Consumer credit races ahead as UK households struggle to cope

Summary by The Guardian

People borrowed an extra £1.8bn in June, up from £900m in May, Bank of England figures show

2 months ago·London, United Kingdom

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Consumer loans in the UK, +6.5% year-on-year in June, high growth since 1919

[LONDON 29th Reuters] - According to data released by the Bank of England (British Central Bank) on the 29th, consumer loans in June increased 6.5% from the previous year, recording a high growth since May 2019. Consumer loans increased net by 1781 million pounds (2170 million dollars). It exceeded all expectations of Reuters economist surveys. May was a net increase of 903 million pounds. The number of mortgage approvals in June was 63726, a lo…

2 months ago·United Kingdom

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Consumer credit races ahead as UK households struggle to cope

People borrowed an extra £1.8bn in June, up from £900m in May, Bank of England figures show

2 months ago·London, United Kingdom

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The Independent

Credit card borrowing surges by £1bn as households grapple with rising bills

Card borrowing grows at fastest pace in 17 years, Bank of England reports

2 months ago·London, United Kingdom

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Increased interest rates impacts consumer spending

The average for a 30-year fixed mortgage rate is 5.5%

2 months ago·United States

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How raised interest rates will impact consumers' household budgets

The Federal Reserve raised interest rates once again Wednesday in a battle against inflation, so the cost of borrowing is now more expensive.

2 months ago

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U.S. Consumer Spending Increased in June as Inflation Rallied

Purchases of goods and services, adjusted for price changes, increased by 0.1% in June after a revised fall of 0.3% a month earlier

2 months ago

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