The latest figures from Statistics Canada show Canadian household debt continues to rise.
For every dollar of income, Canadians owe $1.67 in credit market debt.
In its publication The Daily, Stats Can says:
Household credit market debt as a proportion of adjusted household disposable income (excluding pension entitlements) edged up to 167.3% from 166.8% in the third quarter. In other words, there was $1.67 in credit market debt for every dollar of adjusted household disposable income. This income (+1.1%) increased at a slightly slower pace than household credit market debt (+1.2%). Leverage, as measured by the ratio of household debt to assets, was unchanged at 16.7% at the end of the fourth quarter.
You can read the full report here.
Media coverage and analysis of this story:
Vancouver Sun
Global News
CTV News
CBC.ca