DS Forums

 
 

Boracic means Boracic


Reply
Thread Tools Search this Thread
Old Yesterday, 07:43
i4u
Forum Member
 
Join Date: Aug 2006
Posts: 30,183

With interest rates signalled to rise, and consumer spending accounting for 60% of GDP...is this good news?

Consumer borrowing on credit cards, loans and overdrafts is growing at its fastest rate since before the financial crisis, according to Bank of England figures that brought further warnings over the state of UK household finances.

Unsecured consumer credit was up 8.3% in the 12 months to November 2015, the Bank’s figures show, with consumers borrowing an additional £1.5bn in November. This was compared to an average increase of £1.2bn over the previous six months. The growth rate was the highest since February 2006.
It seems to confirm reports that it is UK consumer spending rather than exports that have been driving the economy in recent months?
i4u is offline   Reply With Quote
Please sign in or register to remove this advertisement.
Old Yesterday, 07:59
trunkster
Forum Member
 
Join Date: Oct 2007
Posts: 13,948
With interest rates signalled to rise, and consumer spending accounting for 60% of GDP...is this good news?



It seems to confirm reports that it is UK consumer spending rather than exports that have been driving the economy in recent months?
The reason for Next's latest forecast, and not Brexit.
trunkster is offline   Reply With Quote
Old Yesterday, 08:08
i4u
Forum Member
 
Join Date: Aug 2006
Posts: 30,183
The reason for Next's latest forecast, and not Brexit.
What a pro Brexit campaigner is saying now....

Brexit campaigner Lord Wolfson, chief executive of clothing retailer Next, has called on the government to lay out some of the core principles of its Brexit strategy.

Simon Wolfson, who has previously warned that the British economy would be “finished” if the government pursued an isolationist Brexit course, said: “It would be helpful to understand the principles and objectives of the government with which they are going to enter negotiations.”

He said more openness on immigration policy, which could have a big impact on retail businesses which directly employ a large proportion of EU nationals and whose suppliers are also reliant on immigrant labour, would be particularly helpful.
i4u is offline   Reply With Quote
Old Yesterday, 08:41
Aurora13
Forum Member
 
Join Date: Apr 2014
Posts: 10,589
This has all the hallmarks of the run up to financial crisis 2006/2007 where wise heads were expressing concern but speculators and public ran amok.

Let's remember also that Northern Rock bank run was in September 2007 but the full crisis didn't materialise until September 2008. Folks finances didn't get really start to get hit until 2009/2010.
Aurora13 is offline   Reply With Quote
Old Yesterday, 12:33
johnny_boi_UK
Forum Member
 
Join Date: Mar 2013
Posts: 3,038
This is one of the reasons why we are in a worse state than say otaly
johnny_boi_UK is offline   Reply With Quote
Old Yesterday, 12:46
Mr Oleo Strut
Forum Member
 
Join Date: Jan 2014
Posts: 2,307
With interest rates signalled to rise, and consumer spending accounting for 60% of GDP...is this good news?



It seems to confirm reports that it is UK consumer spending rather than exports that have been driving the economy in recent months?
And this huge bubble of debt will surely burst as has happened before, but this time with truly catastrophic consequences made much, much worse by Brexit.
Mr Oleo Strut is offline   Reply With Quote
 
Reply




 
Forum Jump


All times are GMT. The time now is 09:30.