- Skip to content [Accesskey 'S']
- Skip to navigation [Accesskey 'N']
- Go to Home page [Accesskey '1']
- Go to Site Map [Accesskey '3']
- Go to Search page [Accesskey '4']
- Go to Help page [Accesskey '6']
- Go to Complaints page [Accesskey '7']
- Go to Terms & Conditions page [Accesskey '8']
- Go to Contact Us page [Accesskey '9']
- Go to Access Key Details page (Accessibility information) [Accesskey '0']
Consumer credit spending 'unchanged'.
15/02/2012
Britons are continuing to exercise caution in uncertain economic times, with new consumer credit spending levels remaining unchanged from 2010.
New credit spending last year remained at 2010 levels, while spending using store cards, store instalment credit, personal loans and credit cards all fell.
The figures, from the Finance & Leasing Association (FLA), show that over 2011 as a whole second mortgages fell 3% by value and 15% by volume compared with 2010.
However, credit provided through dealers for car purchases continued to grow.
It seems that against a backdrop of economic uncertainty, growing numbers of Britons are opting to top up their savings rather than spending.
Fiona Hoyle, FLA head of consumer finance, said the demonstrable caution being exercised by consumers "reinforces the need for the Government to make sure that any changes to regulation do not limit the supply of affordable, responsibly-provided credit."
Copyright Press Association 2012
How useful did you find this page?
Your recently viewed items
You need javascript enabled for us to remember your Recently Viewed Items.
You might also be interested in...
ISA transfers
Find out how to move your existing cash or stocks and shares ISAs held with another provider into one of our ISAs.
ISA top-ups
Haven’t made use of your full ISA allowance for this year? Top-up with a lump sum or increase your direct debit.
My Accounts
For an easy way to manage your investments online.
