BBA Credit Card Stats March 2009
Credit outstanding fell by £570 million in March, to stand at £64.7 billion, at the same level as a year earlier.
The proportion of balances bearing interest rose 0.4% to 73.8%.
The number of transactions totalled 164 million in March (18.7% higher than in February and 0.9% higher than in March 2008), with a value of £12.1 billion (18.1% higher than in February but 2.0% lower than in March 2008).
There were 67.2 million cards in issue at end-March, relating to 55.9 million accounts, 63.3% of which were active, ie had a balance outstanding.
Google credit card search stats
Credit Card searches have remained relatively stable.
Gross Domestic Product (GDP) contracted by 1.9 per cent in the first quarter of 2009, unrevised from last month’s estimate. GDP is 4.1 per cent lower than the first quarter of 2008.
Output of the production industries fell by 5.3 per cent compared with a fall of 4.5 per cent in the previous quarter. This was driven by manufacturing output which fell by 5.5 per cent.
Construction output fell by 2.4 per cent over the quarter, unrevised from the previous estimate.
Output in the service industries fell by 1.2 per cent in the first quarter, down from a fall of 0.8 per cent in the previous quarter. The largest contribution to this decline came from distribution and business services.
Household expenditure fell by 1.2 per cent and is now
2.8 per cent lower than the first quarter of 2008.
Government final consumption expenditure rose by 0.3 per cent and is now 3.5 per cent higher than the first quarter of 2008.
Gross fixed capital formation fell by 3.8 per cent and is now
8.3 per cent lower than the first quarter of 2008.
The trade deficit in real terms decreased from £7.6 billion in the fourth quarter of 2008 to £7.3 billion in the first quarter of 2009. Exports of goods and services fell by 6.1 per cent while imports were down 5.9 per cent.
The GDP expenditure deflator rose by 1.8 per cent compared with the first quarter of 2008, down from 2.0 per cent in the previous quarter.
Compensation of employees at current prices fell by 1.1 per cent and is now 0.3 per cent below the level seen a year ago.
Total gross operating surplus of corporations rose by 0.2 per cent and is now 3.2 per cent higher than a year ago.
Unless otherwise specified:
Growth refers to a comparison of output in the latest quarter compared with the previous quarter. This is referred to as quarterly growth.
Annual growth refers to a comparison of output in the latest calendar year in comparison with the previous year.
Figures are in chained volume or real terms in that they have been adjusted to remove the effects of price change.
Figures are seasonally adjusted.
Karl Simpson writes for www.CreditCardsForPeopleWithBadCredit.co.uk