Canadian Household Debt Levels Grew as Net Worth Rose
This article is for subscribers only.
Canadian households had a higher debt-to-income ratio than their U.S. counterparts for the first time in 12 years, even as their net worth advanced during the third quarter, government figures show.
The ratio of household credit market debt-to-personal disposable income rose to 148.1 percent from 143.4 percent as income fell 1.5 percent, Statistics Canada said in a report from Ottawa. In the U.S., debts represent 147.2 percent of households’ disposable income, according to the U.S. Federal Reserve.