Market comment - Irish household debt ratio falls below the UK

Davy Research
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New Central Bank data show that Irish household debt was €137.5bn, or 123.5% of disposable income, at end-2018 – now the fifth highest across Europe having fallen below the UK. This is a stark improvement from 210% in 2011 but is flattered slightly by the statistical treatment of banks’ sales of non-performing loans. Irish household net worth fell slightly in Q4 2018 but should rebound in 2019 given movements in global equity markets.