News

Statistics Canada says household debt-to-income ratio fell in first quarter

Statistics Canada says household debt-to-income ratio fell in first quarter
Business
OTTAWA - Statistics Canada says the amount Canadians owe compared with their income fell in the first quarter compared with the end of last year.

The agency says household credit market debt as a proportion of household disposable income on a seasonally adjusted basis fell to 172.3 per cent in the first quarter.

The reading compared with 174.0 per cent for the fourth quarter of 2020 as an increase in household income outpaced an increase in debt.

The result means Canadians owed $1.72 in credit market debt for every dollar of household disposable income.

Meanwhile, the household debt service ratio, measured as total obligated payments of principal and interest on credit market debt as a proportion of household disposable income, fell to 13.45 per cent from 13.55 per cent in the fourth quarter.

The decrease came as the seasonally adjusted household savings rate rose to 13.1 per cent in the first quarter compared with 11.9 per cent in the last quarter of 2020.
Read more on Toronto Star
News Topics :
Similar Articles :
Business
OTTAWA Statistics Canada says the amount Canadians owe relative to their income fell in the second quarter as household disposable income rose while the amount of debt was relatively...
Business
OTTAWA Statistics Canada said Friday that household financial assets rose for a fourth consecutive quarter and the debt to income ratio fell, but some economists predict the gains may...
Business
Statistics Canada says household credit market debt as a proportion of disposable income was 177.5 per cent in the third quarter on a seasonally adjusted basis. That compared with 177.4 per...
Canada
The Bank of Canada says that high household indebtedness and housing market imbalances remain the most important vulnerabilities to Canadians and the economy. Listen Statistics Canada says the amount households...
Business
OTTAWA Statistics Canada says the amount Canadians owe relative to their income ticked higher in the fourth quarter of last year as the growth in debt slightly outpaced income...