Household wealth saw record growth in 2021, expected to slow in 2022: Credit Suisse

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

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

Total global wealth reached $463.6 trillion by the end of 2021, with the United States, China and Canada leading in household wealth expansion, the report said.

“It’s probably too early to fully assess the impact of the inflation, Ukraine crisis, supply chain crisis, but probably we will see some reversals of the global wealth gains” in 2022, Axel Lehmann, the chairman of Credit Suisse Group’s Board of Directors, said on Tuesday.

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Reporting by Selena Li; Editing by Andrew Heavens

Our Standards: The Thomson Reuters Trust Principles.

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