Wednesday 22 November 2017

Adjusting our spending habits

THERE was further evidence yesterday that the economy is hauling itself off the bottom after its tremendous fall. But the obstacles to any rapid climb out of this deep hole were also starkly on view.

The KBC Bank/Chartered Accountants survey confirms the two-speed economy, with senior accountants in exporting companies fairly upbeat about their prospects. Those involved in supplying the domestic market were much less cheerful.

One indication of their difficulties comes from yesterday's data and survey on credit cards. Spending is more than 10pc down on last year, and consumers are trying to reduce the debt on their plastic.

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