Thursday, January 31 13:01:20
Household net worth1 increased by E11bn or 2.5 per cent during Q3 2012, reaching E456.9bn or E99,646 per capita, according to statistics from the Central Bank today.
Meanwhile, the ratio of household debt to disposable income, an indicator of debt sustainability, declined further during Q3 2012, to stand at 203.8 per cent; its lowest level since Q4 2008.
Total Government liabilities increased substantially during the same period reaching E212bn, their highest level to date.
Non-financial corporation debt decreased to 202pc of GDP.
This represented a decline in debt of E2bn, or 0.6pc, compared with the previous quarter.
Separate figures from the Central Bank today show that loans to Irish households decreased by E372m (3.9pc) in December, following a decrease of E264m (3.6pc) in November.
Lending for house purchase was 1.6pc lower on an annual basis at year end, while lending for consumption and other purposes decreased by 10pc over the same period.
Meanwhile, the annual rate of change in Irish private-sector deposits remained positive in December. Private-sector deposits increased by 2.5pc over the year, compared with annual rises of 2.2pc and 2.4pc in November and October respectively.
Deposits from Irish households were 1.1pc higher on an annual basis, while deposits from insurance corporations and pension funds and other financial intermediaries rose by 6.9pc.
"Although there has been some sign of improvement in the deposits side in the past few months, Ireland remains a long way from where it wants/needs to be as regards credit supply/demand to get the domestic economy moving again," Alan McQuaid, chief economist with Merrion said.