Household debt: statistics and impact on economy

Friday, December 21, 2018Latest statistics and forecasts for household debt in the UK and international comparisons. There is also a guide explaining how to understand and interpret household debt statistics and a summary of research looking at its effects on the economy.

Metadata

Provider:

UK Parliament research

URL:

https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-7584

Retrieved on:

Saturday, December 22, 2018

Information

Tags:

Economy, Debt, Household debt, Money, Finance, European debt crisis

Summary

Key Points:

House of Commons Library
Latest statistics and forecasts for household debt in the UK and international comparisons.
There is also a guide explaining how to understand and interpret household debt statistics and a summary of research looking at its effects on the economy.
Statistics and forecasts
Total household debt in the UK rose sharply from the late 1990s up until the financial crisis began in 2008.
Guide to understanding household debt statistics
The downsides to household debt are well known and include over-indebted households cutting back on their spending on other things, thusreducing economic activity.