Source: Erica Alini, globalnews.ca, September 12, 2020

The average Canadian now owes $1.58 per dollar of disposable income.

Canada’s household debt ratio registered a significant decline between April and June, as the government rolled out extensive income-support measures linked to the novel coronavirus pandemic, Statistics Canada said on Friday.

The agency said household credit market debt as a proportion of household disposable income dropped to a seasonally adjusted 158 per cent, down from 175 per cent in the previous quarter.

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