The growth in borrowing on loans, credit cards and overdrafts slowed in May, figures from UK banks have shown, following fears of runaway debt levels.
Personal debt grew at an annual pace of 5.1% in May compared with 6.4% a month earlier, the British Bankers’ Association (BBA) said.
Borrowing through loans and overdrafts has decelerated in particular since the start of the year.
However, individuals are putting little money aside in savings.
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Craig Erlam
His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.
Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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