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The UK Consumer Credit Market in 2007 and Future Outlook (Datamonitor)
- Market: Finance and Banking
- Published Date: 07/08/2008
- Report Title: The UK Consumer Credit Market in 2007 and Future Outlook
- Table of Contents: View Table of Contents
- Report Type: Market Report
- Country: UK
- Number of Pages: 37
Introduction
The UK consumer credit market has continued to contract in 2007, as various issues such as the liquidity squeeze, high personal debt levels and weaker consumer spending power took their toll on the industry. With few signs of the current situation alleviating, the future of the UK consumer credit market still looks bleak.
Scope
*Covers unsecured personal loans, credit cards, overdrafts, motor finance and retail finance in the UK.
*Provides forecasts for gross advances under 3 different scenarios for the consumer credit market as a whole as well as for individual product lines.
*Examines the factors that have impacted on the consumer credit market over the course of 2007.
Highlights
2007 saw liquidity issues affecting lending markets in the UK. While the impact of the credit crunch on personal lending markets is to a lesser extent than that witnessed in the mortgage market, it has contributed further to the subdued performance of the consumer credit sector.
Despite the economy recording a 2.9% and 3.1% GDP growth in 2006 and 2007 respectively, consumer credit has remained subdued in the previous two years. With the economy expected to slow down quite significantly this year, as the credit crunch takes its toll on the economy, the UK consumer credit sector is unlikely to recover in 2008.
After rising by just 4.4% over 200506, unsecured personal loan balances picked up again in 2007 with an increase of 9.7%.
Reasons to Purchase
*Gain access to the latest market sizing and forecasting data for the UK consumer credit market to place your performance in context to the market's.
*Understand how the market is changing and evaluate any opportunities for your business arising from these changes.
*Plan your future strategy with confidence using a scenario based forecasts.
The UK consumer credit market has continued to contract in 2007, as various issues such as the liquidity squeeze, high personal debt levels and weaker consumer spending power took their toll on the industry. With few signs of the current situation alleviating, the future of the UK consumer credit market still looks bleak.
Scope
*Covers unsecured personal loans, credit cards, overdrafts, motor finance and retail finance in the UK.
*Provides forecasts for gross advances under 3 different scenarios for the consumer credit market as a whole as well as for individual product lines.
*Examines the factors that have impacted on the consumer credit market over the course of 2007.
Highlights
2007 saw liquidity issues affecting lending markets in the UK. While the impact of the credit crunch on personal lending markets is to a lesser extent than that witnessed in the mortgage market, it has contributed further to the subdued performance of the consumer credit sector.
Despite the economy recording a 2.9% and 3.1% GDP growth in 2006 and 2007 respectively, consumer credit has remained subdued in the previous two years. With the economy expected to slow down quite significantly this year, as the credit crunch takes its toll on the economy, the UK consumer credit sector is unlikely to recover in 2008.
After rising by just 4.4% over 200506, unsecured personal loan balances picked up again in 2007 with an increase of 9.7%.
Reasons to Purchase
*Gain access to the latest market sizing and forecasting data for the UK consumer credit market to place your performance in context to the market's.
*Understand how the market is changing and evaluate any opportunities for your business arising from these changes.
*Plan your future strategy with confidence using a scenario based forecasts.
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