Households’ balance sheets are in good shape; debt as a share of income has remained stable, net wealth is at a record high, and debt service costs are below their long-run average. However, the recent increase in new credit card delinquencies is a sign that higher interest rates are beginning to bite and serves as a reminder that the current economic expansion will not continue forever.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services