Household Financial Conditions
Household consumer debt levels rose again (to 21.24% of disposable personal income last November), after remaining stable since the beginning of 1996. This renewed acceleration in household debt burdens is all the more striking when viewed against the backdrop of a domestic personal saving rate that turned negative, the only time this has occurred since the figure was first calculated.
Suggested citation: "Household Financial Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-02, pp. 15-17, 02.01.1999.