FINANCE
More people falling into heavy debt
- Published: 27 Nov 2012 at 00.00
- Newspaper section: Business
Household debt climbed in the third quarter as people's ability to repay debts declined, partly because of the government's policy on first-time home and car buyers.
Outstanding debts for personal consumption in the third quarter escalated 20.4% year on year to 2.74 trillion baht, compared with increases of 15.7% and 17% in the first and second quarters.
According to a National Economic and Social Development Board (NESDB) report, home loans also rose 10.3% in the third quarter, up from 9.7% in the second quarter and 9.9% in the first quarter, while auto loans increased 33.6% in the third quarter, compared with rises of 24.5% in the second quarter and 20.2% in the first quarter.
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