Aussies drowning in household debt


The Bank for International Settlements (BIS) has released its global household debt data for the June quarter, which again ranks Australians as the second most indebted in the world.

The next table summarises the ratios of household debt to GDP:

As you can see, Switzerland (131%) takes the gold medal in the global household debt stakes, with Australia taking silver (119%) and Denmark (115%) the bronze medal.


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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.