Sunday, August 1, 2021
All countries COVID-19 Cases
198,848,605
Total confirmed cases
Updated on August 1, 2021 5:34 PM

UK consumers borrow again as lockdown lifted By Reuters

Must Read
- Advertisement -
Writer
© Reuters. FILE PHOTO: Shoppers carry handbags in London, UK, Aug. 25, 2016. REUTERS / Neil Hall / File Photo

LONDON (Reuters) – Debt by British consumers rose in May for the first time since August last year, according to Bank of England data that showed the economy accelerated as restrictions on the coronavirus were lifted last month.

Unsecured loans increased by 280 million pounds net (387.66 million dollars) since April, as consumers bought cars with dealer financing agreements and applied for more personal loans.

A Reuters poll of economists had pointed to a rise of just under £ 250 million in May, having fallen in each of the previous eight months as households were largely stuck at home and controlled their expenses.

Data from the Bank of England also showed net home loans rose faster than expected in the Reuters survey, rising 6.6 billion pounds in May from April as home buyers scrambled to take advantage of a tax break. extended offered by Finance Minister Rishi Sunak.

Earlier on Tuesday, June data from mortgage lender Nationwide showed British home prices rose the most in annual terms in more than 16 years this month.

The Bank of England said mortgage approvals for home purchases totaled 87,500 in May, just slightly more than the 86,900 in April and less than the recent peak of 103,200 in November 2020.

($ 1 = 0.7223 pounds)

Disclaimer: Fusion Media I would like to remind you that the data contained in this website is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges, but rather by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SUGGESTED NEWS
- Advertisement -
Latest News

Medicare Advantage: How Doctors Can Take Advantage of This Emerging Opportunity

The inability to adapt to the evolving dynamics shaping the future of medical payment poses a threat to the...
- Advertisement -

More Articles Like This

- Advertisement -