UK Has Largest Consumer Debt in Europe
UK consumer debt is more than double that of other Europen nations according to a report released today from Datamonitor. Excluding mortgages, the average Briton has £3,175 of debt, the equivalent of $6,040. The average European meanwhile owes just £1,558, or $2,964. (Source: BBC News)
It should be noted however that these figures still pale in comparison to U.S. consumer debt, which, seasonally adjusted, reached $2.3 trillion in July, or $7,856 per American, more than $1,800 more than the average Briton. (Source: Federal Reserve Bank)