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May debt was at six-year high posting 6.6bn.
(From Irish Independent)
IRISH consumers became distinctly more gloomy in May as the prospect of higher interest rates increased their worries about the economic outlook.
But house-buyers continue to borrow at record levels, and companies are piling up debt even faster, seemingly unconcerned by the threat of dearer money.
Figures from the Central Bank showed that private sector borrowing grew at a six-year high of almost 30pc in the twelve months to May.
The amount of money lent during the month came to 6.6bn, itself the highest monthly increase in twelve months.
Mortgages accounted for just over 2bn of the total and the amount of mortgage debt was 27.8pc higher than in May last year.
But the amount of non-mortgage debt rose even faster than that. Companies borrowed 1.3bn during the month, with personal borrowers racking up another 900m debt.
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