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Canadians Aren’t Saving Much of Their Paychecks for a Rainy Day

Toronto-Dominion Has Record U.S. Quarter On Ameritrade Boost
Photographer: Darryl Dyck/Bloomberg

The savings rate in Canada has dipped to the lowest in more than a decade, a sign consumption driven growth may be nearing an end.

Statistics Canada reported Friday the household savings rate, which represents the proportion of disposable income that remains after spending, fell to 0.8 percent in the third quarter, the lowest level since early 2017. It’s averaged 1.4 percent over the past year, the worst on an annual basis since 2005.