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Federal debt nearly doubled from 2014–15 to 2024–25, approaching $2.1 trillion, with forecasts suggesting an additional $400.1 billion increase by March 2029 due to projected deficits in future plans. [12] [13] The per-person debt burden reached $51,467 by 2024, exceeding near-crisis levels present in 1995 by 12.3%. [14] [15]
Countries by household debt, loans and debt securities as % of GDP 1980 to 2022 [1]; Country 2022 2021 2018 2017 2016 2015 2010 2005 2000 1995 1990
From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. [2] In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. [3] By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. [4]
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Household debt, the amount of money that all adults in the household owe financial institutions, includes consumer debt and mortgage loans. In March 2015, the International Monetary Fund reported that Canada's high household debt was one of two vulnerable domestic areas in Canada's economy; the second is its overheated housing market. [164]
Canada's economy grew at an annualized rate of 1% in the third quarter, undershooting the Bank of Canada's forecast of 1.5%, after growing 2.2% in the prior quarter.
Canada and the United States are due to release their November employment reports on Friday. Economists expect a Canadian jobs gain of 25,000, while U.S. non-farm payrolls are forecast increasing ...
The price of oil, one of Canada's major exports, fell 1.6% to $69.57 a barrel on Chinese demand concerns and ahead of a Federal Reserve interest rate decision on Wednesday. (Reporting by Fergal ...