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UK consumers ramp up credit card debt and save less despite Covid crisis

Consumer borrowing on credit cards jumped to its highest level in more than a year in November, pushing all forms of household unsecured credit to £1.2bn, according to the latest Bank of England data. The increase in reliance on loans and credit cards exceeded City forecasts of a £0.8bn rise and beat the £0.6bn average of the previous six months.   Analysts said much of the increase reflected a more confident,…