The highest increase in consumer debt in more than 18 years is fuelling a surprise recovery in the UK’s retail sector, as Britons borrow to buy products ranging from high-ticket electronic items to basics such as milk.
A borrowing binge has taken off in the UK with credit card activity rising at its fastest pace since March 2004, an increasing number of pensioners using buy-now-pay-later and retailers reporting that many shoppers are turning to finance. Meanwhile, one British pawnbroker’s loans have struck a record high. ..
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