Moody's issues warning over UK consumer credit

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

original PM replied

31 July 2017, 15:45
Originally posted by WTFH View Post

But you said 2 weeks ago:

Take your pick, are you a champion of consumption or not?

That's a good memory.

Spending someone else's money is not a good way forward.

However this is not sustainable globally anyway as you always need someone at the bottom of the pile.
Leave a comment:
WTFH replied

31 July 2017, 15:31
Originally posted by original PM View Post

ah yes if only people didn't need to get a new car every 3 years and the newest consumer tech every year

But you said 2 weeks ago:

Originally posted by original PM View Post

Consumption is the only driver of any economy.

Take your pick, are you a champion of consumption or not?
Leave a comment:
northernladuk replied

31 July 2017, 15:12
Why is SueEllen issuing warnings over consumer credit???
Leave a comment:
PurpleGorilla replied

31 July 2017, 14:46
Originally posted by original PM View Post

ah yes if only people didn't need to get a new car every 3 years and the newest consumer tech every year

oh well I suppose they were going to get burned eventually.

Does this mean UK people might stop buying new Audis and BMWs?
Leave a comment:
original PM replied

31 July 2017, 14:31
ah yes if only people didn't need to get a new car every 3 years and the newest consumer tech every year

oh well I suppose they were going to get burned eventually.
Leave a comment:
scooterscot started a topic Moody's issues warning over UK consumer credit

31 July 2017, 14:03
Moody's issues warning over UK consumer credit

So it begins. Proper doom. Yeah yeah they did not predict the credit bubble, but you better be sure everyone listens to them nonetheless.

Rating agency Moody’s has sounded the alarm over Britain’s consumer credit market.

It has downgraded the outlook on bonds backed by credit card customers, buy-to-let mortgages and car loans, and warned that some British borrowers will struggle to repay their debt as the economy weakens, and inflation eats into their salaries.

In a new report Greg Davies, Moody’s assistant vice president, says:

“Household debt is high and still growing, leaving consumers vulnerable to an economic downturn, while higher inflation, weaker wage growth and levels of indebtedness leaves those in lower-income brackets the most exposed.”

“An additional challenge is that households’ capacity to draw on savings to maintain consumption and/or service their consumer debts has significantly diminished.”

As a result, Moody’s has downgraded the collateral outlooks on most ‘UK structured finance sectors’ to negative.

source: https://www.theguardian.com/business...eurozone-pmis-
Tags: None