Statistics Canada says the amount Canadians owe relative to their income ticked higher in the first quarter as debt grew faster than income.
The agency says the ratio of household credit market debt to disposable income rose to 173.9 percent on a seasonally adjusted basis, up from 173.5 percent in the fourth quarter of 2024.
In other words, Statistics Canada says there was $1.74 in credit market debt for every dollar of household disposable income in the first quarter.
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—held steady at 14.40 percent in the quarter….