OTTAWA — Household debt in Canada climbed to a new record in the second quarter as the demand for loans outpaced tepid growth in after-tax income.The country’s national net worth remained largely unchanged in the April-to-June period from the previous quarter, Statistics Canada said Thursday.The ratio of household credit-market debt to disposable income in the second quarter climbed to 167.6% from 165.2% in the previous quarter. That means households, on average, owed 1.68 Canadian dollars for every dollar of after-tax income earned. The previous record was 165.4% in the fourth quarter of last year.
Source: Canada’s Household Debt Hits Record in 2Q — Update – NASDAQ.com
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