The only certainty in a sea of Brexit uncertainty is that the whole process is going to take a lot longer than envisioned.
So while consumer credit itself is not currently a major threat, if there is a significant downturn in the growth of the UK economy a rise in employment consumer debt will weigh heavily.
Perversely, the continued slowdown in UK growth will be the very thing that stops the BoE from taking any major monetary actions.
Jen Causton is an investment analyst at Architas
KEY FIGURES
1.7%
Annual GDP growth rate for the UK at the end of the second quarter of 2017
November 22
Date of the Autumn Budget, when the chancellor will provide an update on the UK’s economic situation
80%
New car sales via personal contract purchases, according to the Society of Motor Manufacturers and Traders
