Canadian Consumer Debt Hits All-Time High of $2.7 Trillion
Canadian consumer debt rose to $2.68 trillion in the second quarter of 2026, marking a 4.18 percent increase compared to the same period the previous year, new data shows. Debt rose by 1.3 percent in this year’s second quarter to hit a record high, according to a consumer credit report by Equifax Inc. Consumer debt […]
TL;DR
- Canadian consumer debt hit a record $2.68 trillion in Q2 2026.
- This represents a 4.18% increase compared to the same period last year.
- Debt rose by 1.3% in the second quarter.
- Equifax Inc. reported the record high in their consumer credit report.
- Credit card balances grew in the second quarter, despite a slow start in usage.
- The average credit card spend per Canadian, adjusted for inflation, was $2,192, up 1.4% year-over-year.