Chart of the week: US consumers splash less cash

American households were traumatised by the Great Recession, which was the worst for 70 years, says Fortune’s Geoff Colvin. They finally stopped shopping and paid some debt back after decades of borrowing and spending.

The absolute level of consumer debt fell from the 2008 peak of $12.3trn and has ticked up gently since around 2013 to a new high of almost $14trn. But the days of “debt-crazed” shopping are over. In terms of GDP, debt has kept sliding from a pre-crisis 99%...
source: Money Week

2019-12-02 12:11
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