oh dear, back to the afternoon quiz shows.
OK, down from £67 billion to £65 billion.What are the comparatives for credit card debt, or for overall household borrowing (mortgage, personal loan, HP, store card, whatever)?
Mark,In percentage terms, that fall is pretty steep - it is about 4 percent. If personal consumption fell by a similar amount, then a recession is guaranteed.Zed
A credit card balances chart, Alice?
This doesn't talk about the duration of these kind of loans. If that is taken into account the drop in new lending is probably much sharper than is immediately apparent from this graph.There are inevitably two sides; the banks unwillingness to lend and the consumers new found avoidance of borrowing. Both have moved - welcome to the new equilibrium.