Wealth decline is broad across different asset classes but is primarily driven by foreign shareholdings.
"The start of the year was dominated by growing uncertainty about Trump's announced trade policy, which caused stock market turbulence to increase. Households tend to have high global stock exposure in their savings and during the quarter the broad American stock exchange fell by almost 5 percent. If you also add that the krona exchange rate strengthened against the dollar, the stock exchange fell by more than 13 percent", says SEB's private economist Américo Fernández according to a press release.
At the same time, households' total debts grew by 34 billion kronor driven by both housing loans and study loans, while consumer loans decreased. Notable is that study loans increased at the fastest rate in 24 years.
