Spanish consumer debt up in November

Bank of Spain Credit: Erik Jaeger flickr

THE Bank of Spain has released figures which show that the personal debt of private individuals in November reversed a four month trend by increasing by 1.6 per cent.

The main reason for the increase in the private sector is due to personal loans as opposed to new mortgages which only increased slightly although the total amount owed does include a significant amount in respect of mortgage loans.

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On the other hand however, company debt has effectively remained static and over the past year has reduced from very high previous levels.


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