Canadian consumer debt rose to $2.68 trillion in the second quarter of 2026, marking a 4.18 percent increase compared to the same period the previous year, new data shows.
Debt rose by 1.3 percent in this year’s second quarter to hit a record high, according to a consumer credit report by Equifax Inc. Consumer debt is money that Canadian households owe for items they purchase, and can include personal loans, credit card balances, and student loans.
The Aug. 24 report indicated a “slow start” to consumer card usage, but said credit card balances grew in the second quarter. The average credit card spend per Canadian reached $2,192 in the second quarter when adjusted for inflation to sit 1.4 percent higher than it was one year ago….