Statistics Canada Says Household Debt-to-Income Ratio Lower in Q3, Service Costs Up

Statistics Canada Says Household Debt-to-Income Ratio Lower in Q3, Service Costs Up
Credit cards are shown in this file photo on Oct. 6, 2022. The Canadian Press/Andrew Vaughan
The Canadian Press
Updated:
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The amount Canadians owe relative to their income edged lower in the third quarter, but the cost of servicing that debt relative to income climbed, Statistics Canada said on Dec. 13.

The agency said household credit market debt as a proportion of household disposable income in the third quarter fell to 181.6 percent, on a seasonally adjusted basis, down from 181.9 percent in the second quarter.