Tuesday 1st February 2011 |
Text too small? |
A renewed appetite for credit ahead of Christmas has been interpreted as a sign of an improving economy.
Inquiries in mortgages and credit cards increased in December, although consumer credit inquiries eased, according to credit bureau Veda Advantage.
Credit card applications rose 5.7% in December 2010 compared with December 2009, with the greatest interest from baby boomers - those born post-World War 2, between 1946 and 1964, the first of who are now reaching the retirement age.
Mortgage applications rose nearly 1%. Consumer credit applications were down 1.9% on a year earlier, although they were still above a low hit in 2009.
"The credit crunch shocked people and they changed their behaviours quickly, but now we are seeing a renewed but cautious approach to credit," said Veda Advantage managing director John Roberts.
"People were clearly more active in late 2010, and I expect to see this optimism continue in 2011."
NZPA
No comments yet
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand
TWL - TradeWindow's $2.2 million capital raise now unconditional
April 17th Morning Report