Canadians continue to hold high debt compared to disposable income

Statistics Canada said Friday household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter.

Statistics Canada said Friday the ratio of household credit market debt to disposable income increased to a new high of 163.4 per cent in the second quarter compared with 162.1 per cent in the.

The societies of both Canada and the United States hold the view that. As such the average post tax annual salary in the U.S. is $52,344. According to the website numbeo.com, the cost of living is higher for Americans than Canadians. The Numbeo Cost of Living Index for the U.S. is 69.91 compared to.

The ratio of household debt to disposable income hit a new high in the fourth quarter, as rock-bottom interest rates continued to lure more Canadians into the real estate market. statistics Canada.

4 Economists might add that the debt-to-disposable-income ratio mixes out – standing debt, which is a stock concept, with disposable income, which is a flow. In the case of the DSR, debt-servicing costs and disposable income are both flows. 5 The results of these tests are reported in the Bank’s Financial System

A common way to measure household debt is to compare it with the amount of disposable income people have. In Canada’s case, household debt is around 170 per cent of disposable income. In other words, the average Canadian owes about $1.70 for every dollar of income he or she earns per year, after taxes.

The report also highlights that Canadian households continue to have a particularly high level of debt. For instance, the debt-to-disposable income shows Canadians are generally more indebted than.

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Disposable Personal Income in Canada increased to 1255960 CAD Million in the first quarter of 2019 from 1245168 CAD Million in the fourth quarter of 2018. Disposable Personal Income in Canada averaged 446785.77 CAD Million from 1961 until 2019, reaching an all time high of 1255960 CAD Million in the first quarter of 2019 and a record low of 24872 CAD Million in the first quarter of 1961.

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Canadians’ debt to disposable income ratio inches down to 170.4% The amount that Canadians owe compared to what they have to spend was slightly lower at the end of 2017, but is still sitting near.