/24-7PressRelease/ - LONDON, UK, August 30, 2006 - The Office for National Statistics (ONS) said gross domestic product (GDP) grew 0.8 per cent in the second quarter of the year as households spent more on beer, barbecue food and flat-screen televisions in preparation for the World Cup. The ONS also said the annual rate of GDP growth hit 2.6 per cent between April and June.
Though, the ever rising spending is beneficial for the economy at large, it also shows an alarming trend of borrowing money. More and more people are procuring personal loans for their personal expenditure. An increasing number of people are being a part of this rat race and are failing to pay after a while, leading to large amount of unpaid debts.
Any nation cannot progress if the residents are indebted and stressed under the burden of loans and credit cards.
This sudden surge leads to a higher trade deficit and amount to escalating debts. According to a separate research founding, millions of Britons would be looking for debt consolidation alternatives in the near future.
One of the safest ways of evading these debt problems is to look for a debt consolidation loan but prevention is always better than cure; why fall into debts in the first place. So think again before swiping that card again.
For more news and information on debt trends and its possible consolidation measures contact webmaster or http://www.debt-consolidation-for-the-stressed.co.uk
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