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BofE figures show consumer caution
3 October, 2008
The Bank of England has released the Housing Equity Withdrawal (HEW) figure for Q2 which is estimated at -£2.8 billion.
The negative figure implies that individuals injected a net total of £2.8 billion into housing equity in the second quarter. That compares with a revised estimate of £5.2 billion of net housing equity withdrawal for 2008 Q1, where individuals withdrew funds, potentially for consumption.