Tuesday, January 30, 2007

Forex News: 30.01.2007 Consumer credit rose in Great Britain in December

The index of consumer credit in Great Britain, which includes credit cards’ borowing, bank credits and hire purchases, was in December +1.03bln stg, the Bank of England reported today.

November reading was revised from +1.00 to +1.13bln. The number of mortgages was 113K in December, compared with 129K in November.

As a whole, the consumer credit rise reflects the increase of consumer confidence as the consumers are not afraid to run into debt on expensive goods. As a rule, the increase of the index is reflected in national currency rise.


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