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29th Nov 2022 14:59U.K., Daily Monitor
Households are saving more than usual, taking on less credit, and increasing ad-hoc mortgage repayments.
Firms also are choosing to delever; October’s net repayment of external finance was the second largest ever.
House purchase mortgage approvals fell sharply in October; we expect them to fall further this winter.
finance, house purchase, mortgage, mortgage approvals, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence