Consumer borrowing starts to cool
30th January 2008 by Barney McCarthy
The latest figures from The Bank of England reveal that unsecured borrowing is starting to slow down.
The increase in net consumer credit in December, £0.6bn, was below that in November and below the previous six-month average.
Net credit card lending rose by £0.3bn, slightly below the increase in November.
Net other loans and advances also rose by £0.3bn, £0.6bn lower than the November increase.
The annual and three-month annualised growth rates of consumer credit fell by 0.3% to 5.7% and 1.6% to 6.3% respectively.
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