Consumer "debt caution" continues

Graham_Devon

Often accused of posting negative news, so here we go, some positive news. The public, by large, is continuing to approach debt with caution.

In march:
£7.2bn was spent on credit cards, but £7.4bn repaid. Demand for overdrafts and loans continued to be "low" and home loans fell from 32,840 to 31,888, a 10 month low (in constrast to CML figures).

So, positive news. Consumers are continuing to pay down credit cards and holding back from taking out new loans. It's the only way people will free up their finances and get back to an even keel.

http://www.bbc.co.uk/news/business-17852153

Thrugelmir

Very good news. Hopefully repayment of debt will accelerate now.

CLAPTON

presumably, if the same were true of small business the article would show that it was an awful situation and proves that the banks won't lend.

Thrugelmir

CLAPTON wrote: »

presumably, if the same were true of small business the article would show that it was an awful situation and proves that the banks won't lend.

Though business hopefully is investing with the borrowed money. Not frittering it away.