Statistics Canada says seasonally-adjusted household credit market debt as a proportion of household disposable income dropped for the third quarter in row recently. A Canadian dollar coin is pictured in Vancouver on Wednesday, May 29, 2019. THE CANADIAN PRESS/Jonathan Hayward
OTTAWA – Statistics Canada says households owed $1.79 in credit market debt on average for every dollar of disposable income in the fourth quarter.
The federal agency says seasonally-adjusted household credit market debt as a proportion of household disposable income fell for the third quarter in row.
The figure dipped to 178.7 per cent in the fourth quarter from 179.2 per cent in the third quarter.
It says disposable income outpaced growth in credit market debt because of relatively slow mortgage borrowing in the fourth quarter.
StatCan also noted households were wealthier in the fourth quarter.
The agency says total household net worth increased almost two per cent to $16.4 trillion, driven largely by strength in financial markets as both bonds and equities rallied.
This report by The Canadian Press was first published March 13, 2024.
