At 09:30, the Bank of England is publishing data on how much people are borrowing in the form of loans and credit cards, and also saving. It may well show a rise in the number of people putting purchases on plastic just to keep afloat. You can see the data >> here << when it drops. In your experience:
- Are people taking our more personal loans (perhaps to consolidate debt) and buying more with credit cards just to buy them some time or keep their heads above water?
- Are you seeing signs of people struggling financially and turning to credit cards and other forms of debt?
- How leveraged are consumers and are they ready for the economic storm ahead?