Net lending decreases

Story link: Net lending decreases

Lending has seen a massive decrease over the last few months, with net lendings from banks and building societies to households at around £1.1bn for January, which is about 50% down on the average for the last 6 months. The question is whether this is the choice of banks, or the choice of the individual.

http://www.ft.com/cms/s/0/c41ab1a2-0713-11de-9294-000077b07658.html

Lending by banks and building societies to households totalled £1.1bn in the first month of the year – less than half the average for the last six months – according to new data from the Bank of England.
Net lending to individuals, a measure of consumer purchasing activity, fell in January to £1.1bn, roughly half the level of December and the average for the previous six months.