Borrowing by Irish households declines by 3.4% in May

Central Bank figures show signs of a pick-up in lending for consumer purposes

30th June, 2016
The Central Bank of Ireland

Lending to Irish households declined by 3.4 per cent in May compared with a year earlier although there were signs of a pick-up of lending for consumer purposes, new figures show.

"Net new lending was only observed for medium-term loans, with short and long-term borrowers continuing to make net repayments on outstanding debt," the Central Bank said. "These types of loans typically include car loans, furniture, domestic appliance and holiday loans with overdrafts and credit cards...

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