Consumer Credit Spending Drops Amid Continued Consumer Uncertainty | Debt Advice Foundation

Consumer Credit Spending Drops Amid Continued Consumer Uncertainty

Recent figures from the Finance & Leasing Association show that consumers are becoming increasingly reluctant to take out additional credit. The report revealed that credit card and store card borrowing in July was down 9% and 24% respectively year on year, indicating that consumers remain uncertain over whether the economy is in the midst of a double dip recession.

Recent figures from the Finance & Leasing Association show that consumers are becoming increasingly reluctant to take out additional credit. The report revealed that credit card and store card borrowing in July was down 9% and 24% respectively year on year, indicating that consumers remain uncertain over whether the economy is in the midst of a double dip recession.

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