Canada’s household debt keeps climbing
Carney: families’ debt number one domestic threat to the economy
Canadian consumers kept piling on debt for a third consecutive quarter between July and September, according to Statistics Canada figures, the Globe and Mail reports. The ratio of debt to personal disposable income, the key measure of household debt sustainability, was 152.98 per cent in the third quarter, up from 150.57 per cent in the previous three months. The report comes as Bank of Canada governor Mark Carney warned that Canadian families’ credit burden, which has surpassed levels seen in the U.S. and U.K,. represents the biggest domestic threat to the economy.
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