Tuesday, 25 October 2011

UK Sectoral balances and private debt levels - Q2 2011

Q2 Figures are out.

The external sector is pretty much balanced this quarter, which means that the government sector deficit is entirely down to domestic private sector saving desires..

Interesting reduction in private non-financial savings, down to capital formation according to ONS. Are private companies really investing? Or is this just a dangerous run up in inventories?

Private debt stays at 455% of GDP overall. The amount paid off by households and private companies has been lent out again within the financial sector.

Source: Office of National Statistics, tables RPZD, RPYN, RQAW, RPZT, RQCH, DJDS (Seasonally adjusted Net Lending/Borrowing per sector plus residual error) and YBHA (Gross domestic product at market prices, seasonally adjusted). Private sector debt based on tables J8XI, NLBC, NKZA, NNQC, NNRE, NNXI, NNXM, NNWK, J8XK, NLSY, NLUA, J8XM, NJCS, and NJBQ (Lending, securites and derivatives per sector) scaled by YBHA.