Pandemic figures show biggest fall in UK consumer credit since 1994

NEW figures from the Bank of England show the biggest fall in UK consumer credit since 1994 as the pandemic proves households are watching their spending.

Households have cut back on consumer credit at the fastest pace since at least 1994 with the BOE reporting that net consumer lending fell by £590m (€657m) in October, taking the annual rate to a survey-record low of -5.6 per cent.

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Written by

Matthew Roscoe

Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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