Household Financial Obligations Down Significantly
Consumers are definitely deleveraging. Financial obligations as a percent of disposable personal income peaked at 18.9% in Q3 2007 but have since dropped to 16.2%. This is a positive trend for consumers. You can see below that disposable personal incomes are on the rise since the recession which is contributing to the lower leverage.
US Household Financial Obligations Chart by YCharts
Filed under: Economic Watch
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