Lending to households continues to fall

Lending to households continues to fall

Lending to households in Ireland fell again last month by €264 million.

New figures from the Central Bank show loans to households continued to decline during May.

They were 3.9% lower on a year-to-year basis following a decline of 4% for the year ending April 2012.

Lending for house purchase was 2.5% lower on an annual basis in May 2012, while lending for consumption and other purposes declined by 7.7% over the same period.

The May declines were largely driven by a decrease in loans for house purchase of €242 million.

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