Barclays warns on Oz household debt

Sunday 15 March 2015

Barclays chief economist, Kieran Davies, has continued his recent good work, warning that Australia’s record high household debt – which is higher than anywhere else in the developed world – exposes the economy to risks in the event of another financial crisis. From The AFR:

Household debt is equal to 130 per cent of GDP… compared with an average across the advanced world of 78 per cent.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.