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Biz Loans -18.8% in July (3M annualized) , Fastest Since >1980

CANADA DATA
(MNI) OTTAWA
  • That pace just beats the -18.2% in July 2009, to be fastest decline in records back to 1980
  • Business loans still +5.3% YOY, Bank of Canada data shows
  • Consumer credit -8.9% 3M annualized, rebound from June -18%
  • Consumer credit -3.1% YOY vs -3.0% in June. Weakest since Oct 1982 at -4.0%
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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