4Q: Household credit market debt as proportion of disposable income fell for the third consecutive quarter.
In Q4, Statistics Canada reported households owed $1.79 in credit market debt on average for every dollar of disposable income. This marks the third consecutive quarter that household credit market debt as a proportion of disposable income has fallen. Disposable income outpaced growth in credit market debt in the fourth quarter due to relatively slow mortgage borrowing. Household net worth increased by almost 2% to $16.4 trillion, primarily driven by strength in financial markets.
March 13, 2024
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