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MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

Data BriefDataPolicy NewsCanadaBriefStoryNorth America

MNI (OTTAWA) - Canadian household debt swelled to more than CAD3 trillion in the third quarter according to federal statistics released Thursday, a sign of the lingering danger of the country's housing boom.

Household credit market debt was CAD3.003 trillion before adjusting for seasonality, compared with CAD2.967 trillion in the second quarter, Statistics Canada reported. The seasonally adjusted figure rose 1.0% to CAD2,993 trillion. Household obligations are now about the size of Canada's GDP. 

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MNI (OTTAWA) - Canadian household debt swelled to more than CAD3 trillion in the third quarter according to federal statistics released Thursday, a sign of the lingering danger of the country's housing boom.

Household credit market debt was CAD3.003 trillion before adjusting for seasonality, compared with CAD2.967 trillion in the second quarter, Statistics Canada reported. The seasonally adjusted figure rose 1.0% to CAD2,993 trillion. Household obligations are now about the size of Canada's GDP.