The household debt with banks fell by 4% and continues to minimum 9 years

The annual cut recorded by loans for the purchase of housing was the main reason for the fall in credit to households. Compared with the previous month, the household debt remained virtually unchanged, although slightly lower.

The debt of Spanish families with financial institutions fell 3.9% in May compared with the same month of 2014, which puts the figure at 736 080 million euros for the third consecutive month to its lowest level since August 2006. 

According to the updated data today by the Bank of Spain, the annual cut recorded by loans for the purchase of housing was the main reason for the fall in credit to households, since in May 2014 amounted to 600.439 million euros, 4 , 1% less than the 575.277 million euros in May this year. Compared with the previous month, the household debt remained virtually unchanged, although slightly lower, as it went from 737 983 000 (according to the final data) to 736 080 million. As for loans to companies, it has also been reduced in May from the previous year, by 5.1% to 941.345 million euros, while in April the decline has been only 0.68%.