Household Debt

US consumer debt rises despite less use of credit cards

Consumer credit card debt fell for a fourth consecutive month. Photo: AFP

US consumer credit rose more than expected in September, but credit card usage fell for a fourth straight month, which could help shed some light on the slowdown in consumer spending growth during the third quarter.

Friday, 8 November, 2013, 12:42pm

HKMA chief's household debt fears overblown

Let's look at some specifics here; for instance, that bit about rampant consumer spending, which so concerns Norman Chan Tak-lam, the chief executive of the Hong Kong Monetary Authority.

7 May 2013 - 3:56am 5 comments

Why the HKMA should fret over consumer debt

Credit where it's due

Only last week my esteemed colleague Jake van der Kamp was complaining that there is altogether too much consensus among the Business Post's columnists. Commentators are not meant to be a harmonious society.

Well, Jake, you've got your wish for a healthy dose of adversarial scrappiness, because today the back page is going to pick a fight with the front page.

7 May 2013 - 7:45am 7 comments

Economy at risk of overheating warns HKMA chief

Hong Kong's current account balance plunged to 1.1 per cent of GDP at the end of last year from 15 per cent in 2008. Photo: Bloomberg

Soaring household debt and rampant consumer spending have put Hong Kong's economy at risk of overheating, the city's central bank boss said yesterday.

4 May 2013 - 4:52am 1 comment