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UK Spending Drives Alarming Credit Card Surge

August’s surge in UK consumer credit-card debt at its fastest pace since 2005 should sound the alarm about the health of the economy, Bloomberg Intelligence currency analyst Audrey Childe-Freeman said in a report. The data suggest households are already taking on more debt to cover the basic cost of living, she added. Childe-Freeman expects more indicators to flash red in the coming months, along with house prices, as the effect of inflation and higher borrowing costs starts to feed through.