Canadian household debt ratio down: StatsCan

Statistics Canada says the country’s national net worth rose 0.8 per cent to $6.6 trillion in the fourth quarter.

The number represents the total wealth of the country less what is owed to non-residents.

On a per-capita basis, national net worth increased to $190,900 in the fourth quarter from $189,700 in the third quarter.

The agency says household net worth was up almost one per cent, as a result of higher values of equities, mutual funds and pension assets.

Household credit market debt, which includes credit cards, mortgages and loans, also rose in the fourth quarter.

However, the ratio of credit market debt to personal disposable income declined to 150.6 per cent from 151.9 per cent in the third quarter as income rose faster than debt.

Total government net debt at book value increased to $812 billion in the fourth quarter from $794 billion in the third quarter.

This represented 47.3 per cent of the gross domestic product, up from 46.8 per cent in the third quarter.

This ratio has risen for 13 consecutive quarters.

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