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.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.