Menu
31/08/2001
UK consumer lending grows by record amount
Latest figures from the Bank of England has shown that consumer lending to individuals through mortgages, credit cards and other loans has grown by a record £6.1 billion in July.
This figure left the total amount of consumer debt outstanding in the UK at £699 billion, while before mortgages, debt was more than £5,300 per household.
The latest figures showed mortgage lending grew yet again in July, suggesting the current rise in house prices is set to continue. The Bank also revealed that £14.9 billion of mortgage loans were approved last month, a £900m rise on June's figure.
Some analysts believe the current spending trend of the UK consumer is needed in order to offset the recession UK manufacturers are currently going through.
However, the reported price war amongst supermarkets and a drop in the level of pay deals suggests that the pressure on inflation over the coming months will be in a downward direction. (MB)
This figure left the total amount of consumer debt outstanding in the UK at £699 billion, while before mortgages, debt was more than £5,300 per household.
The latest figures showed mortgage lending grew yet again in July, suggesting the current rise in house prices is set to continue. The Bank also revealed that £14.9 billion of mortgage loans were approved last month, a £900m rise on June's figure.
Some analysts believe the current spending trend of the UK consumer is needed in order to offset the recession UK manufacturers are currently going through.
However, the reported price war amongst supermarkets and a drop in the level of pay deals suggests that the pressure on inflation over the coming months will be in a downward direction. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
16 January 2002
Northern Ireland sees rise in unemployment
While the number of people without work in the UK has risen by 15,000 in the last three months, Northern Ireland has seen a more modest increase in unemployment - by only 0.3 per cent on the previous quarter. In addition, the increase in benefit claimants was lower than had been expected both nationally and locally.
Northern Ireland sees rise in unemployment
While the number of people without work in the UK has risen by 15,000 in the last three months, Northern Ireland has seen a more modest increase in unemployment - by only 0.3 per cent on the previous quarter. In addition, the increase in benefit claimants was lower than had been expected both nationally and locally.
29 November 2001
Unemployment in southern Ireland is on the rise
Figures released by the Central Statistics Office (CSO) in the Republic of Ireland has muted Wednesday’s announcement that DeCare International of the US, a leader in the US dental benefits industry, is to significantly expand its existing Irish operation in County Mayo and create over 200 jobs.
Unemployment in southern Ireland is on the rise
Figures released by the Central Statistics Office (CSO) in the Republic of Ireland has muted Wednesday’s announcement that DeCare International of the US, a leader in the US dental benefits industry, is to significantly expand its existing Irish operation in County Mayo and create over 200 jobs.
01 October 2001
UK house prices soar by 2.8 per cent
UK house prices rose 2.8 per cent in September, the highest monthly increase in eight years, according to a report by the building society Nationwide. The figures revealed in the report reveal that the price of the average UK home was 15 per cent higher last month than in September 2000.
UK house prices soar by 2.8 per cent
UK house prices rose 2.8 per cent in September, the highest monthly increase in eight years, according to a report by the building society Nationwide. The figures revealed in the report reveal that the price of the average UK home was 15 per cent higher last month than in September 2000.
31 July 2001
Consumer credit could grow further if interest rate is cut
A rise in consumer credit that has outstripped City forecasts, and could herald a further cut in interest rates to buoy up the economy. According to the latest figures, released on Monday 30 July, UK consumer credit has grown by £1.
Consumer credit could grow further if interest rate is cut
A rise in consumer credit that has outstripped City forecasts, and could herald a further cut in interest rates to buoy up the economy. According to the latest figures, released on Monday 30 July, UK consumer credit has grown by £1.
17 July 2001
UK INFLATION REMAINS AT TWO YEAR HIGH
UK inflation has remained at a two-year high, official figures have revealed. The Office for National Statistics (ONS) revealed prices were 2.4 per cent higher in June than the same month a year before.
UK INFLATION REMAINS AT TWO YEAR HIGH
UK inflation has remained at a two-year high, official figures have revealed. The Office for National Statistics (ONS) revealed prices were 2.4 per cent higher in June than the same month a year before.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
