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Boracic means Boracic |
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#1 |
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Join Date: Aug 2006
Posts: 30,189
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Boracic means Boracic
With interest rates signalled to rise, and consumer spending accounting for 60% of GDP...is this good news? Quote:
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. It seems to confirm reports that it is UK consumer spending rather than exports that have been driving the economy in recent months?
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. |
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#2 |
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Join Date: Oct 2007
Posts: 13,968
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Quote:
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? |
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#3 |
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Join Date: Aug 2006
Posts: 30,189
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Quote:
The reason for Next's latest forecast, and not Brexit.
Quote:
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. |
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#4 |
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Join Date: Apr 2014
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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. |
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#5 |
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Join Date: Mar 2013
Posts: 3,045
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This is one of the reasons why we are in a worse state than say otaly
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#6 |
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Join Date: Jan 2014
Posts: 2,311
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Quote:
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? |
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