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|Consumer credit strengthening as Britons’ confidence soars|
|Tuesday, 22 September 2015|
Improving economic conditions combined with record-low interest rates has encouraged banks and consumers to lend and borrow more since the start of 2014. Borrowing has become cheaper in the UK, which is starting to trigger an increase in lending; a situation which has played out so far in 2015 and is expected to improve further over the next four years, finds a new report by Timetric.
Timetric forecasts the stock of consumer credit to grow from GBP168.8 billion to GBP177.5 billion at the end of 2015, and to reach GBP204.6 billion at the end of 2019, with an overall growth of 19.6% and an average annual growth of 3.9% throughout this period.
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