Image: Change in household debt - v1

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Description: U.S. Changes in Household Debt as a percentage of GDP for 1989-2016. Homeowners paying down debt for 2009-2012 was a headwind to the recovery. This behavior tends to slow recoveries from financial crises relative to typical recessions.
Title: Change in household debt - v1
Credit: Own work using FRED Board of Governors of the Federal Reserve System (US), Households and Nonprofit Organizations; Credit Market Instruments; Liability, Level [CMDEBT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CMDEBT U.S. Bureau of Economic Analysis, Gross Domestic Product [A191RP1Q027SBEA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/A191RP1Q027SBEA
Author: Farcaster
Usage Terms: Public domain
License: Public domain
Attribution Required?: No

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Great Recession

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