Caroline Cakebread
Canada leads advanced economies in private debt accumulation according to this chart from the Canadian Centre for Policy Alternatives tweeted earlier today by Robeco’s Jeroen Blokland.
Canada’s private debt now stands at 218% of GDP compared to 168% in 2008, meaning we’re accumulating debt at a faster pace than ever before.
With rates on the rise, the risks to the Canadian economy are clear: even a slight slowdown in private debt growth could have immediate and outsized impacts on the economy and asset markets.
