{"id":304,"date":"2010-02-02T17:09:51","date_gmt":"2010-02-02T17:09:51","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/?p=304"},"modified":"2010-02-02T17:09:51","modified_gmt":"2010-02-02T17:09:51","slug":"credit-card-borrowing-rockets-in-december","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2010\/02\/02\/credit-card-borrowing-rockets-in-december\/","title":{"rendered":"Credit Card borrowing rockets in December"},"content":{"rendered":"<p>Figures from the Bank of England today revealed that new borrowing on credit cards, loans and overdrafts rose for the first time since June 2009.<\/p>\n<p>Consumer credit rose \u00a352 million in December, which surprised analysts who had expected a \u00a3400 million fall.<\/p>\n<p>For the first time since June, borrowing outstripped the amount being paid back by UK consumers.<\/p>\n<p>This was primarily due to borrowing on credit cards which rose by \u00a3195 million. However, demand for personal loans and overdrafts remained low, with repayments outstripping new borrowing by \u00a3143 million.<\/p>\n<p>The figures came as the Bank also revealed that the number of mortgages approved for house purchase fell in December.<\/p>\n<p>The fall, which was the first in over a year, came as a surprise to many analysts as the housing market recovery has been gathering momentum of late.<\/p>\n<p>Meanwhile, the Bank of England figures come after an upbeat manufacturing survey which revealed UK factory activity rose at its fastest rate in 15 years in January.<\/p>\n<p>The figures will boost hopes that the economic recovery is gathering pace after last week\u2019s disappointing fourth quarter GDP figures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Figures from the Bank of England today revealed that new borrowing on credit cards, loans and overdrafts rose for the<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[11],"tags":[],"class_list":["post-304","post","type-post","status-publish","format-standard","hentry","category-debt"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=304"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/304\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}