Statistics Canada says average household debt hits all-time high
Posted December 13, 2011 6:32 pm.
This article is more than 5 years old.
TORONTO, Ont. – Statistics Canada says Canadian households are continuing to pile on debt at record levels.
Average debt compared to disposable income climbed to an all-time high of 153 per cent in the third quarter, almost three points higher than the previous quarter.
As well, the agency says household net worth declined by 2.1 per cent to $180,100 from $184,700 due to the declining value of equity investments and pension assets.
One of the few pieces of good news in the report was that national worth, which includes firms, increased by one per cent to $6.5 trillion.
