This rise in bad debt, alongside the recent slowdown in consumer credit, suggests that households are starting to feel the pressure of their rapid build-up of debt in recent years.
Criticisms have been raised, but we have looked at it ourselves, and we believe the ONS figures do a good job of measuring online sales.
Overall, today's data lend tentative support to our view that the consumer spending slowdown has further to run.
Copyright © 2024 Electric Goat Media. All Rights Reserved.