Bigger Balances

credit cards from explorerHousehold debt rose by $35 billion in Q2, led by a $32 billion rise in auto loans and a pleasant $17 billion jump in credit card balances. Student loan levels were unchanged and mortgage and HELOC debt declined by $7 billion each. Total household debt is now $400 billion below its 2008 peak and troughed in 2013, $1.5 trillion below its peak. The Household Debt/GDP ratio is 80% and slowly rising.

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