OTTAWA — Household debt as a proportion of annual disposable income in Canada reached a record 152.98 per cent in this year's third quarter, Statistics Canada said Tuesday.
That was up from 150.57 per cent in the second quarter of 2011 as personal debt — including credit-card balances and mortgages — rose without any corresponding increasing in income.
The data also showed that the per-capita net worth of Canadians fell to $180,100 in the third quarter, from $184,700 in the second quarter, as stock markets took a dive.
That was the biggest quarterly drop in per-capita net worth since the fourth quarter of 2008, when the financial crisis devastated global stock markets.
Statistics Canada noted that the Toronto Stock Exchange's S&P/TSX composite index fell 12 per cent in the quarter, which is also the biggest decline since late 2008.
Read more: http://www.canada.com/business/Canadian+household+debt+hits+record+high/5851720/story.html#ixzz1gQWfURCE
That was up from 150.57 per cent in the second quarter of 2011 as personal debt — including credit-card balances and mortgages — rose without any corresponding increasing in income.
The data also showed that the per-capita net worth of Canadians fell to $180,100 in the third quarter, from $184,700 in the second quarter, as stock markets took a dive.
That was the biggest quarterly drop in per-capita net worth since the fourth quarter of 2008, when the financial crisis devastated global stock markets.
Statistics Canada noted that the Toronto Stock Exchange's S&P/TSX composite index fell 12 per cent in the quarter, which is also the biggest decline since late 2008.
Read more: http://www.canada.com/business/Canadian+household+debt+hits+record+high/5851720/story.html#ixzz1gQWfURCE