Consumers are back buying on credit but are cautious following the global financial crisis.
Latest statistics from credit bureau Veda shows consumer activity in the credit market continues to strengthen after several years of decline.
Veda Managing Director John Roberts says the statistics reinforce indications that the country's reached the base of the credit demand cycle and is now trending upwards:
“The fact that we are seeing a bit of positive growth now actually means the economy is recovering and it is starting to show a bit of health again,” he said.
“This is a good thing, you can’t have an economy doing no activity for years, otherwise you just fall back into recession again.”
Mr Roberts says while people are slowly returning to credit for their purchases statistics show they're cautious and not over-reaching themselves.
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