FLA reveals 'cautious spending'

Wednesday, 26 January 2011 05:10

The Finance and Leasing Association (FLA) has revealed consumers are continuing to show caution in terms of spending.

Its figures found store card and store installment credit business fell by 25 and 11 per cent respectively in November.

In addition to this, it revealed personal unsecured loans rose by 34 per cent in November, but noted this was compared to the particularly low level of credit granted 12 months previously.

Fiona Hoyle, FLA Head of Consumer Finance, stated the figures send a clear message to the government about the challenges posed when considering further regulatory changes in the consumer credit sector.

She added: "Against a backdrop of contracting markets, the government must consider carefully the impact on the markets of any further changes to the credit regime."

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