An error occured. Details Hide
You have unsaved pages. Restore Cancel

The household debt balance in the United States reached a new all-time high of $13.2 trillion in the fourth quarter of 2017, according to the latest report from the Center for Microeconomic Data of the Federal Reserve Bank of New York. US household debt has risen continuously since 2013, now constituting 67 percent of US GDP and exceeding the 2008 pre-crisis level by nearly $475 billion.

US household debt is indisputably large in absolute terms, now exceeding the GDP China, the world's second-largest economy. Yet, relative to the size of the US economy, household debt is less remarkable than it is for other economies. Australia, Canada, Denmark, Norway, Portugal, Sweden, and the United Kingdom all have higher levels of household debt as a share of GDP than the US.

On a per capita basis, US household debt has also not yet reached the level of 2008 when household debt exceeded GDP per capita. This suggests that the number of new debt accounts increased more aggressively than did the origination volume.

Mortgage balances also remain below their previous peak despite robust growth while auto loans reached a record value of $1.2 trillion, 74 percent higher than the 2010 level.  US car sale figures also confirm an uptick in car purchases in the US, aided by historically low interest rates on auto loans.

Download our latest US ECONOMY cheat sheet Download

Download our latest US ECONOMY cheat sheet

The United States being the biggest economy in the world significantly influences the global economic situation. The US economy is comprehensively covered by data and statistics from multiple government and private sources. We selected the most significant and up-to-date ones and presented them in this cheat sheet.

Related Data Insights

Top Vehicle Manufacturers in the US Market, 1961-2016

Over the last three years, car sales in the US market have set new all-time records and included a collection of manufacturers that extends well beyond the American classics. In 2015, vehicle sales in the US reached nearly 17.5 million units, a growth of 5.7 percent from 2014 and 25,000 more vehicles than the record setting sales in 2005. The year 2000 marked a turning point in the US auto industry: it was the last year that General Motors and Ford Motor Company combined made up at least 50 percent of the US market share. GM’s share of the US market has decreased almost 3 times since its peak of 50.7 percent in 1962, falling to 17 percent in...

US Population by Age and Generation

Millenials have overtaken Babyboomers by nearly 4 million to become the largest generation in the United States. With a current population of around 79 million, the Millenial generation is expected to grow to 81 million over the next 20 years because of migration, according to the US Census Bureau's latest estimates. The boundaries that define generations are not universally agreed, and yet these boundaries carry important implications in business and government. The size, financial security, and general health of each generation shapes everything from marketing campaigns to insurance and social welfare benefits to transportation and health...

US Solar Energy Profile

An extended crisis in the US coal industry and ecological concerns surrounding energy generation are important contributors to the phenomenal growth in solar power generation capacity in the US during the last decade. Net solar electricity generation has increased by 7,135 percent, from about 508,000 MWh in 2006 to 36.8 million MWh in 2016.The average growth rate for solar power generation capacity was about 73 percent per year between 2010 and 2016, a significantly higher rate than other electricity generation technologies. The rate has slowed, however, during the last three years, increasing by 46 percent from January 2016 to January 2017,...

Rupee Devaluation against Dollar, 1947 - till date

Every Indian knows how much the Economy is changing now on daily basis. Hence, being an India prepared this dashboard for our knowledge.   Since India was under British rule rupee was pegged to pounds. From 1927 to 1966, it was 13 rupees = 1 pound. This was maintained until 1966, when the rupee was devalued and pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar. This value lasted until the U.S. dollar devalued in 1971. Prime Minister