Statistics on Household Debt

The Central Bank of Ireland released their statistics on household debt for February 2024. The 12 months to February 2024 saw a €1.33bn rise in household debt, a 1.3% increase. Some of this increase might be reflective of the ongoing growth in housing construction leading to more new mortgages being drawn down. The level of household savings however remains 52% higher than debt, reaching €153.6bn compared to €101.3bn in household debt this February. The continued strength of the Irish consumer balance sheet supports a very positive outlook for consumer spending going forward.