Net consumer credit fell for the fourth straight month in October, dropping by £579m after a £299m drop the month before. That was the biggest fall since records began in April 1993 and compared with analysts’ forecasts of a £200m drop.
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UK consumers repaid record £579 million in one month
The Bank of England said yesterday that British consumers repaid the highest amount of unsecured credit on record in October, reducing their debt at twice the rate economists had expected while separate figures showed a key measure of money supply fell during the month.
