The small income-driven decline in the household debt-to-income ratio in the fourth quarter of 2017 provides a glimmer of hope that the economy might be able to successfully grow its way out of debt. But with signs pointing to a national house price correction, we still strongly believe that a more painful debt-driven deleveraging process awaits this year.
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 gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services