Canada Household Debt Ratio Climbs to Record High in 2nd Qtr
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Canadian household debt climbed to a record relative to disposable income in the second quarter, underlining what the central bank has called a key vulnerability in the economy.
Credit-market debt such as mortgages rose to 164.6 percent of after-tax income from 163 percent in the prior three months, Statistics Canada said Friday in Ottawa. Credit-market debt rose 1.8 percent in the second quarter, outstripping growth in disposable income of 0.8 percent.