August’s surge in UK consumer credit-card debt at its fastest pace since 2005 should sound the alarm about the health of the economy, Bloomberg Intelligence currency analyst Audrey Childe-Freeman says in a report. The data suggests households are already taking on more debt to cover the basic cost of living, she writes. Childe-Freeman expects more indicators to flash red in the coming months, along with house prices as the effect of as inflation and higher borrowing starts to feed through.
(Bloomberg) — August’s surge in UK consumer credit-card debt at its fastest pace since 2005 should sound the alarm about the health of the economy, Bloomberg Intelligence currency analyst Audrey Childe-Freeman says in a report. The data suggests households are already taking on more debt to cover the basic cost of living, she writes. Childe-Freeman expects more indicators to flash red in the coming months, along with house prices as the effect of as inflation and higher borrowing starts to feed through.
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