Canadian household debt hits new high

The ratio of credit market household debt to disposable income hit 163.4 per cent in the second quarter, up from 161.8 per cent in the previous period, the agency said.
Credit market debt strips out trade accounts payable, or short-term credit — normally interest free in order to encourage commerce — that suppliers extend to small businesses, including home businesses.
That number is also about where households in the United States and the United Kingdom stood before home values crashed.
"Today’s report indicates that Canadian households are more financially vulnerable than had previously been thought," said TD economist Diana Petramala in a commentary.

This post was published at CBC News