The appetite for borrowing among consumers remained weak in September, according to figures from the Bank of England.
The number of mortgages approved for house purchases was almost unchanged from the previous month at 47,474, as the housing market stayed on a plateau.
Net mortgage lending was down on the previous month but higher than July.
Borrowing through personal loans and credit cards rose slightly in September but consumers remained cautious.
Sarah Hewin, Chief Economist at Standard Chartered, told the BBC that the numbers can be ''quite volatile".
Growing unemployment concerns, we will see how the retail side of Christmas goes, it just may not be the right point in the cycle right now. There are just too many negatives in the culture.
Especially rising food and fuel prices, and an especially cold winter season predicted.
No comments:
Post a Comment