Household wealth posted record growth in 2021, slowdown expected in 2022: Credit Suisse & More News

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Peter Kavinsky

The logo of the Swiss bank Credit Suisse on an office building in Zurich, Switzerland on September 2, 2022. REUTERS/Arnd Wiegmann

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HONG KONG, Sep 20 (Reuters) – Global household wealth increased by 12.7% in 2021, the fastest annual pace ever recorded excluding exchange rate factors, according to a report released by Credit Suisse on Tuesday.

The report says that by the end of 2021, total global wealth had reached $463.6 trillion, with the US, China and Canada leading the way in increasing household wealth.

“It is probably too early to fully assess the impact of inflation, the Ukraine crisis, the supply chain crisis, but we are likely to see some changes in global wealth growth in 2022,” Axel Lehmann, chairman of Credit Suisse Group, said on Tuesday.

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Reporting by Selena Lee; Editing: Andrew Havens

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Peter Kavinsky is the Executive Editor at cablefreetv.org

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