Consumer acts 'responsibly' in downturn

CENTRAL Bank private sector credit figures for July are expected to show further easing today, reflecting a measured response by consumers to the economic downturn.

Experts believe that the consumer is behaving responsibly by not increasing their personal debt when wages and job prospects are under pressure.

"If their salaries are not increasing by 22%, they are unlikely to borrow in order to cushion themselves from a weaker growth in income," IIB Bank chief economist Austin Hughes said.