Home/Newsfeed

UK Personal Debt Growth Slows in May

Share Print 0

The growth in borrowing on loans, credit cards and overdrafts slowed in May, figures from UK banks have shown, following fears of runaway debt levels.

Personal debt grew at an annual pace of 5.1% in May compared with 6.4% a month earlier, the British Bankers’ Association (BBA) said.

Borrowing through loans and overdrafts has decelerated in particular since the start of the year.

However, individuals are putting little money aside in savings.

BBC

EUR/USD – Euro Ticks Lower, German Business Climate Hits Record High

Week Ahead Fed Rhetoric Fails to Boost Dollar

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

@@craig_forex

Craig Erlam

Latest posts by Craig Erlam (see all)

, ,
Back to Top