Households shun new credit.....

Major banks have offered more evidence of a subdued mortgage market in the UK with budget uncertainties also keeping other lending low.
The downward trend in the number of mortgage approvals for house purchases continued in September, the British Bankers' Association (BBA) said.
This suggests that activity in the housing market is likely to remain subdued in the coming months.
There was also little appetite for new personal loans among consumers.
The number of mortgages approved for house purchases fell slightly compared with the previous month to 31,104, as low demand for new loans continued.
This was below the average of the previous six months, the BBA said.
The average value of these approved loans was £142,900, which was some £5,100 lower than the average of the previous six months but 4.1% higher than a year ago.
Net mortgage lending by the major banks, which strips out redemptions and repayments, stood at £1.6bn in September, down on the previous month's total of £2.5bn and the lowest figure since October 2000.
"Subdued mortgage activity and little demand for unsecured credit are a reflection of household uncertainties ahead of the Spending Review," said BBA statistics director David Dooks.