Government Finance & Policy
June 13, 2024
Canadian Household Balance Sheet (2024 Q1)
Financial market strength combined with slower growth in mortgage debt delivered a boost to Canadian households' wealth. Despite the slight pull back in the debt-servicing burden, it remains near record highs, as payments and incomes are rising in tandem. Q1 GDP highlighted that although economic growth is moderating, wealth gains appear to be buoying consumer spending, with particular strength coming through on the household side on the first quarter reading.
