Canada Household Debt Reaches Record Amid Economy Concern
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Canadian household debt compared with disposable income jumped to a record in the second quarter, the statistics agency said, heightening concerns borrowing will weigh on the country’s economic outlook.
The ratio grew to 165.8 percent in the second quarter, while the first-quarter figure was revised to 164.2 percent from a previous 154.3 percent, Statistics Canada said today from Ottawa. Today’s report made historical revisions back to 1990, which raised the debt ratio in recent years due to a higher estimate of credit-market debt and reduced income.