Household Financial Conditions
After holding steady since 1996, household consumer debt levels resumed their upward trend last year. In May (the latest month for which data are available), the ratio of outstanding consumer credit to disposable personal income climbed to 21.41%, the highest level in this decade. Meanwhile, the dissaving pattern of 1999 persists, with a negative 1.2% saving rate in May.
Suggested citation: "Household Financial Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-08, pp. 15-17, 08.01.1999.