
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.
Related Posts
Leeds ready to reinvest Sam Byram money after making ‘two written bids’ for players
Visiting Israel, GOP presidential hopeful Ben Carson promises strong support for Jewish state
National Living Wage has not led to job losses, survey says
Rory McIlroy claims adding the FedEx Cup to the list of honours on his CV is far more exciting than a potential £7.5million bonus
Does LinkedIn’s Acquisition of Lynda Signal the New Age of HR?
Adam Johnson’s online ‘grooming messages that he sent to schoolgirl’ revealed