Household debt ratio up in second quarter: Statistics Canada
Article content material
OTTAWA — Statistics Canada says the quantity Canadians owe relative to their revenue moved increased within the second quarter as the extent of debt grew sooner than their earnings.
Article content material
The company says family credit score market debt as a proportion of family disposable revenue rose to 181.7 per cent on a seasonally adjusted foundation within the second quarter, up from 179.7 per cent within the first quarter.
Article content material
In different phrases, there was about $1.82 in credit score market debt for each greenback of family disposable revenue within the second quarter.
Article content material
The rise got here as households’ disposable revenue elevated 1.0 per cent, however family credit score market debt rose 2.1 per cent.
Statistics Canada says, on a seasonally adjusted foundation, households added $56.3 billion of debt within the second quarter together with $48.7 billion in mortgages.
The family debt service ratio, measured as complete obligated funds of principal and curiosity on credit score market debt as a proportion of family disposable revenue, was 13.63 per cent within the second quarter in contrast with 13.34 per cent within the first quarter.
