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Risks to Canada's economy remain high as household debt levels continue to grow
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Economies around the world have had some rough years recently. From a global pandemic, a bout of inflation, a disruption in supply chains, coping with a European war and ongoing concern about global financial stability. The Canadian economy has weathered these storms as well, if not better than other economies.

Unfortunately, Canada’s very high levels of household debt — and the highest in the G7 — makes the economy vulnerable to any global economic crisis.

Author: CMHC: Canada Mortgage and Housing Corporation
Topic: Credit & Debt, Housing and homelessness
Location: Canada
Format: Article, Reports/Articles
Content Type: Research
Publication Date: May 23, 2023