Debt loads inched higher this spring, StatsCan says


Canadians debt loads increased in the second quarter, but their net worth also increased, Statistics Canada said.

After nine months of less borrowing, Canadians saw their debt loads decrease in the second quarter, Statistics Canada said Friday. 

The data agency said the country’s total household credit debt — which includes everything from credit cards to mortgages, car and other loans — increased by 1.3 per cent hit just under $1.8 trillion in the three months between March and June.

The uptick comes after three straight quarterly declines.

Expressed as a percentage of disposable income, the national debt ratio dipped to 163.6 per cent. That’s slightly below the all-time record of 164.1 per cent seen in third quarter of 2013.

While Canadians saw their debt loads increase in the spring, their overall net worth increased as asset gains outpaced the increase in debt loads.

Canadians’ net worth increased 0.6 per cent during the quarter to $7.9 trillion. On a per capita basis, that means the individual net worth per person works out to $222,400.

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