Consumers rediscover thrift

After racking up total debts of just under £1.5 trillion, UK consumers are cutting back and borrowing less. Figures from the Bank of England show that consumers repaid loans to the tune of £600m in July, which was the first net repayment since records began in 1993.   In fact the 12-month growth rate of total net lending to individuals … Continue reading

Posted by Nigel Tree | Comments Off on Consumers rediscover thrift

Recovery being hindered by lack of credit

Tight credit conditions and a rise in the cost of borrowing are likely to weaken the UK’s recovery according to Britain’s manufacturers. This is the result of a survey just conducted by the EEF, the manufacturers’ organisation. It is particularly surprising given the historically low level of the Bank of England’s base rate at 0.5% and the efforts the Bank … Continue reading

Posted by Nigel Tree | Comments Off on Recovery being hindered by lack of credit