Consumer debt levels continue to swell, hit all-time high
By The Canadian Press - Thursday, December 13, 2012 - 0 Comments
OTTAWA – Canadians are more in hock today than ever before, Statistics Canada said…
OTTAWA – Canadians are more in hock today than ever before, Statistics Canada said Thursday in releasing fresh data on household debt.
The new report shows household debt to annual disposable income reached a new high at 164.6 per cent, from 163.3 per cent the previous quarter.
Bank of Canada governor Mark Carney has named rising household debt a key risk to the Canadian economy, but noted this week he was encouraged that credit growth appeared to be slowing. Continue…
