Growth of household wealth hits a snag: Credit Suisse

Singapore

HOUSEHOLD wealth per adult in Singapore had grown strongly from 2001 to 2012, but this upward trajectory has since plateaued in domestic currency units and declined in terms of the greenback, due to adverse exchange rate movements last year.

The trend is in line with Credit Suisse Research Institute's finding that the size and wealth of the middle class globally grew quickly before the financial crisis, but the growth subsided after 2007.

Its sixth annual global wealth report said rising inequality also put pressure on the sh…