August 26, 2020

Chart of the month

Household balance sheets will deteriorate as joblessness rises

BY Russell Jones

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( 2 mins) This stands to feed back negatively on the financial sector   1.    Consumer credit write-offs typically rise with unemployment. −         Interesting data from the Bank of England show that each 1-point rise in the unemployment rate is accompanied by around a 1 percentage point increase in the consumer debt write-off rate.  2.    In most countries, the unwinding of […]

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