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23rd Oct 2016 16:53U.S., Economic Monitor

The U.S. household sector carries substantial gross debts, even after the sustained deleveraging since the crash of 2008. The gross debt-to-income ratio stood at 105.3% in the second quarter of this year, down from the 135% peak in late 2007 but still well above the 88% average recorded in the 1990s, which was not a decade of restraint on the part of consumers.

public borrowing income tax receipt public sector psnb labour taxes wages salaries Mr. Hammond

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Keywords for: 24 October. 2016 Why are Households Running Such Large Bank Balances?

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