Improvement in consumer credit markets
The UK saw an improvement across the consumer credit markets, with credit card demand rising over the last month, according to new research.
The Finance & Leasing Association (FLA) has revealed that there was a gradual improvement across the consumer credit markets, with credit card demand rising over the last month.
According to figures released by the consumer credit industry trade body today (May 9th), the first quarter of 2012 saw a gradual improvement in the level of demand.
Data provided by FLA members indicate that March saw a nine per cent increase in total consumer finance, compared with figures collected for the same period of 2011.
Credit cards, personal loans, second mortgages, car finance and store instalment credit all enjoyed a rise in demand over March and over the first quarter of 2012, compared with last year.
The credit card market enjoyed three per cent growth in the first quarter of 2012, with car finance enjoying the sharpest gain with an increase of 20 per cent.
Commenting on the figures, FLA head of consumer finance Fiona Hoyle said: "Many consumers continue to be cautious, reinforcing the need for the Government to make sure that their proposed changes to consumer credit regulation do not limit the supply of affordable, responsibly-provided credit."
Posted by Sarah Nyman
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