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Comment: Consumer Debt Approaching 2008 Crisis Level PDF Print E-mail
Thursday, 26 October 2017
Keith Church, Head of Economic Modelling at 4most, says: “As Standard & Poor’s predicts, the recent trend in credit growth is quite clearly unsustainable. While the level of debt to income is still well below its peak in 2008 and, for most households, servicing debt is not a big problem, there are groups that are much more exposed than there were during the recession, particularly younger borrowers. However, the real problems emerge if the economy continues its current trajectory and in that situation it is usually younger workers who suffer most in terms of unemployment. With more exposure to levels of debt and the most likely to face unemployment, younger people, aged 18-24, are most at risk.”  

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