Author Topic: UK households paying down personal debt  (Read 2149 times)

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The Prophet

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UK households paying down personal debt
« on: July 09, 2011, 11:34:09 am »
Consumption accounts for around 60% of the UK economy.  But UK households are paying down personal debt.
In the first quarter of 2011, they have paid back £5.8 billion of housing debt equating to 2.3% of their net income.
With inflation and higher taxes putting a squeeze on real incomes it is not surprising that spending in the high street fell by the
most in two years.