First increase in household net worth since 200831/01/2013 - 11:38:25
Household net worth has risen for the first time since 2008, the Central Bank revealed today.
The Central Bank's newly released accounts for the third quarter of last year show household net worth increased by 11-billion euro, or 2.5% to €99,646 for every person in the State.
This reflected increases in housing assets (€4.7bn), financial assets (€4.4bn), as well as a decrease in liabilities (€1.8bn).
Household net worth is now 36.3% lower than its peak at 2007.
In further good news, household debt declined during Q3 2012, falling by €1.7bn or 0.9%.
Household debt to disposable income, an indicator of debt sustainability, declined to its lowest level since late 2008 to stand at 203.8%.
However, total Government liabilities increased substantially during the same period, reaching €212bn, the highest level to date.
Non-financial corporation debt decreased to 202% of GDP. This represented a decline in debt of €2bn, or 0.6%, compared with the previous quarter.
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