Sentences with phrase «household debt growth»

This report marks the fifth consecutive year of positive annual household debt growth.»

Not exact matches

Debt levels for the average Canadian household are moving down (perhaps we've been taking those warnings from the Bank of Canada to heart), and as a result there's been «modest» growth in consumer spending, said Ferley.

The IIF said Argentina, Nigeria, Turkey and China recorded the largest buildup in debt ratios over the year, the latter fueled by ongoing growth in indebtedness of households and the nation's finance sector.

«While China's total debt growth slowed notably in 2017 with a drop in the non-financial corporate debt - to - GDP ratio largely offset by rising household and financial sector debt,» the group said.

Their newest paper uses historical data from multiple countries to show that an increase in the ratio of household debt to gross domestic product over a three - to - four - year period predicts a decline in economic growth.

According to a report released Thursday by the Federal Reserve Bank of New York, a substantial increase in household debt in 2016 was led largely by growth in student debt and auto debt.

That's a drag on growth, but a welcome one if it means households have begun doing something about record levels of debt.

Softer growth and low inflation resulting from a surging loonie help households control debt.

«I will continue to act to ensure that household debt levels are sustainable, that lenders are acting prudently, and that increases in interest rates or a housing market downturn don't put at risk the economic growth we are working so hard to accelerate,» Morneau said.

If we came to learn that excessive household debt posed a bigger threat to economic growth than does a certain level of government debt, then policy makers would want to take that into account when setting interest rates.

Subjects touched upon by Poloz during his speech and the ensuing round of questions also included fostering ties with the emerging economies of India, China, and Brazil, and the growth in household debt among Canadians.

Of course, rock - bottom rates and a strong Canadian dollar, he added, are the opposite of what the Canadian economy needs right now in order to kick its current addiction to household debt and condos and switch to a more sustainable growth model fuelled by exports and business investment.

The International Monetary Fund is the latest voice to suggest high household debt will act as a drag on economic growth in the years ahead.

NerdWallet's 2017 household debt study shows that several major spending categories have outpaced income growth over the past decade; many Americans are putting medical expenses on credit cards; and the average indebted household is paying hundreds of dollars in credit card interest each year.

So, in summary these are some of the themes we might expect to see in the next chapter — the impact of technology and the growth of Asia; the normalisation of monetary conditions; the effects of higher levels of household debt; and the capability of our workforce and businesses to be flexible, innovative and adaptable.

The growth in household debt has been outpacing the very low growth in household incomes for a few years now.

Although we knew that lowering the policy rate could worsen vulnerabilities related to household debt, we also knew that it would counter the risk that growth would crater and lessen the probability that the oil price shock would trigger financial stability risks.

I think that it will be hard to escape the conclusion that household debt grew at an unsustainable pace in the decade before the great financial crisis and that this was an important spur to growth.

Indeed, the strong growth of investor housing loans has driven the growth in household debt (as a share of disposable incomes) over recent years and contributed to a rise in both housing prices and dwelling construction.

It notes the need for fiscal consolidation but also the limitations faced by monetary policy in generating growth in demand when households already carry considerable debt.

In recent years we have given a lot of attention to the growth of household debt and its possible effects on the macro economy.

A long period of lacklustre wage growth suggests the only way households can satisfy their spending habits is to keep adding to Canada's record pile of private debt.

Posted by Nick Falvo under Bank of Canada, budgets, China, Conservative government, deficits, economic crisis, economic growth, employment, exchange rates, federal budget, fiscal policy, global crisis, household debt, IMF, interest rates, labour market, macroeconomics, manufacturing, monetary policy, recession, stimulus, unemployment.

I would like to say a little more about it today and will divide the subject into two aspects: the shorter - term cyclical fluctuations in household credit growth, and the fact that various debt ratios have trended upwards over time.

Growth in household credit has remained relatively stable at around 5.5 per cent since the beginning of the year, a pace below the historical average (Chart 22), following an extended period of rapid growth that led to a substantial buildup in householdGrowth in household credit has remained relatively stable at around 5.5 per cent since the beginning of the year, a pace below the historical average (Chart 22), following an extended period of rapid growth that led to a substantial buildup in householdgrowth that led to a substantial buildup in household debt.

The real issue that was not addressed in the budget is the absence of any economic engine to spur a recovery in growth in 2014 and beyond, The household sector is deep in debt; housing construction has stalled; companies lack confidence and are not investing; the federal and provincial governments are in serious restraint mode; and the export sector is weak and deteriorating.

Without a massive transfer of wealth from the state sector to the household sector it will be impossible, I would argue, for GDP growth rates of anything above 3 - 4 % — and perhaps even less — to occur without a further unsustainable increase in debt, whether that increase occurs inside or outside the formal banking system and whether or not discipline has been imposed on borrowers.

«However, historically high levels of household debt and low wage growth will offset some of the positive impact of recent strong employment data, so consumers are likely to remain cautious.»

«The bank expects trend growth in household credit to moderate further, with the debt - to - income ratio stabilizing near current levels.»

The PBO identified four key downside risks to the private sector forecast: global growth, especially in the U.S. could be slower than anticipated; the appreciation of the Canadian dollar could adversely affect exports; sovereign debt issues in Europe could restrain recovery there and put upward pressure on global interest rates; and the high level of household debt in Canada could restrain domestic demand.

Posted by Nick Falvo under Bank of Canada, banks, budgets, Conservative government, consumers, deficits, economic growth, economic models, economic thought, employment, Europe, exchange rates, federal budget, fiscal policy, household debt, housing, inflation, interest rates, monetary policy, oil and gas, prices, Role of government, social indicators, tar sands, US.

The speed with which China's GDP growth slows in 2013 will tell us a lot about how determined Beijing is to rebalance the economy in such a way that growth is driven more by higher household income and consumption and less by investment funded by rising government and government - related debt.

And by that we mean bring an end to double - digit price gains, bring about a steep correction in house prices to levels the city's lowly middle - class incomes can afford, bring about an end to staggering household debt levels and ultimately, bring about the end of housing as the economy's engine of growth?

Report to CMHC warns steady climb of household debt - to - GDP level puts Canada's economic growth prospects at risk

But oil's wild ride has exposed fissures that have been deepening for years, such as Canada's overreliance on household debt and real estate for growth, as well as imbalances in trade and the labour market.

Although it is less than 2 per cent of total household debt, growth in margin lending has accounted for over a fifth of the rise in banks» personal lending (excluding credit cards) since 1996.

The debt - servicing ratio on household borrowing has now surpassed its late 1980s peak, and is set to rise further over the first half of 2004, given current rates of household credit growth.

Growth has not only been funded through debt, but by U.S. household savings.

Through higher savings, U.S. households have materially paid down debt relative to their disposable incomes over the past decade, and this creates further opportunity for growth in consumer spending.

Over the past year, the strong pace of debt accumulation has outstripped the growth in the household sector's assets, despite further significant gains in housing wealth (Table 9).

These changes have resulted in a significant upward shift in the ratio of household debt to GDP, and thus a period of above - average credit growth.

The growth of household debt Number of mortgages delinquent 60 or 90 days Number of car loans that are delinquent Growth of student loans Delinquent studentgrowth of household debt Number of mortgages delinquent 60 or 90 days Number of car loans that are delinquent Growth of student loans Delinquent studentGrowth of student loans Delinquent student loans

The growth of gross household debt has seen the household sector's debt to income ratio on a gradually rising trend for much of the past decade.

Over the year to February, credit to the household sector grew by 11 per cent, compared with growth in households» nominal income which has been running at around 5 per cent; much of the growth in debt has occurred in home mortgages.

Philippine households have among the lowest debt in Asia, solidifying a «long runway» for continued economic growth in the outperforming ASEAN nation, a...

Growth has been fueled by the growth of household and foreign debt rather than by business investment, and we have become dangerously reliant on the resource sGrowth has been fueled by the growth of household and foreign debt rather than by business investment, and we have become dangerously reliant on the resource sgrowth of household and foreign debt rather than by business investment, and we have become dangerously reliant on the resource sector.

Despite the rhetoric of both the Democratic and Republican parties heralding the U.S. as a republic of stockholders, Phillips observes that «middle - class families held (just) 2.8 percent of the total growth in stock market holdings between 1989 and 1998, but accounted for 38.7 percent of the rise in household debt.»

In particular, a massive overhang of debt from a decade - long boom when economic growth was based on unsustainable household borrowing, unrealistic house prices, dangerously high banking leverage, and a failure of governments to put their public finances in order.

The housing market has been a major driver of economic growth across the country in the last decade and this nurtured consumer confidence in taking on household debt.

• Growth in household debt slowed to 0.9 % in the first quarter, driven by a slower rate of borrowing in consumer credit and mortgage loans, Statistics Canada said Friday.