Household debt falls amid job and income uncertainty

CENTRAL Bank figures show households are continuing to cut down on borrowings as they worry about jobs and earnings.

The consequence of this is that quarterly figures, compiled by the bank for the three months to end September 2010, show household wealth in Ireland grew by 3% to €93 billion equal to €20,745 per person.

The banks said that the increase in household wealth reflected the after- shock of the economic collapse.