Household debt falls for 1st time since 2002
Household debt in South Africa is falling, reports Bloomberg.
Households carried R2.27 billion of debt in the second quarter (Q2) of 2020, ever-so-slightly down from R2.3 billion in Q1/2020.
It’s the first time since Q3/2002 that household debt has come down.
However, when measured in relation to disposable income, household debt surged to 85.3% (from 73.6%).
For more detail, read: "South African household debt drops the first time in 18 years" - Bloomberg
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