2 June 2005
Consumer demand for personal is up on the previous few months, according to index results from a major high street bank.
The May HSBC Index revealed that interest in personal loans was steadier than it has been for the last three months.
John Butler, UK economist with the Economics & Investment team, said that "while the rate of take up of debt is easing, it remains relatively robust".
Dennis Turner, head of the bank's business economics team, added: "There appears to a shift away from equity withdrawal borrowing to personal loans as individuals become less inclined to borrow against their property, preferring to take on unsecured short term debt."
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