23rd March 2023 - Credit Connect

Number of business sectors in growth mode hits 10-month high

23rd March 2023 Commercial Credit Management |

More UK business sectors reported an increase in output than at any time in the past 10 months in February, as stronger demand and weaker cost inflation drove activity, according to the Lloyds Bank UK Sector Tracker. Of the 14 sectors monitored by the tracker, 11 saw output expand in February (vs. 6 in January)…

Surprise rise in inflation adds to business pressure – business industry reaction

23rd March 2023 Commercial Credit Management | #business inflation

Figures from the Office for National Statistics (ONS) show inflation rose more than expected last month to hit 10.4%, up from 10.1% in January. Economists had predicted a slight drop to 9.9%. The rise was driven by a continued rise in food costs, which increased by 18.2% in the year to February, the fastest rise…

Money Advice Trust appoints new Chair

23rd March 2023 Appointments | #appointments

The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has announced Christine Farnish CBE as its Chair of Trustees – a role she will take up in July this year. As a former Managing Director for Public Policy at Barclays and Consumer Affairs Director at the Financial Services Authority, Farnish brings…

Rise in customers missing two credit card payments

23rd March 2023 Arrears and Recoveries | #missed credit card payment

New data from FICO has revealed that there was a 13.6 per cent rise in customers missing two credit card payments from December 2022 to January 2023. The figures also that accounts missing one payment fell by 0.7% in the same period. Average total sales per card down 8 percent compared to December 2022 at…

Complaints rose by 9.5% rise in the final six months in 2022

23rd March 2023 Consumer Lending | #complaints

The Financial Ombudsman Service (FOS) has announced a 9.5% rise in complaints it received about financial products in the last six months of 2022. FOS received 79,921 compared to almost 72,978 in the first six months of 2022 (H1 2022). new complaints between the start of July and the end of December, compared to the…

Inflation rebounds unexpectedly – credit industry reaction

23rd March 2023 Arrears and Recoveries | #inflation

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