Author Topic: Why Those Reports About Canada's Health Economy Feel Like BS  (Read 1178 times)

0 Members and 1 Guest are viewing this topic.

Offline kelee877

  • Dignitary
  • ****
  • Posts: 968
  • Karma: 17
  • Gender: Female
  • Bugged out already
  • Country: Canada
  • Location: Northern Ontairo
There is a wide disconnect between the data about Canada’s economic strength and how Canadians actually feel about the economy, says a new consumer report.
The report from Toronto ad agency Bensimon Byrne found that, while Canada has recorded GDP growth every year since the end of the last recession, only 57 per cent of Canadians believe it’s growing. That’s 18 percentage points lower than before the last recession.
The study suggests that Canadians’ personal financial situations — strained from years of accumulating larger and larger debt loads — are causing them to perceive the economy as weaker than it is.
Canadian average household debt is sitting at an all-time high above 163 per cent of average household income, driven there by low interest rates that have made mortgages more affordable, but sent house prices soaring.
If interest rates were to rise just one percentage point, more than a quarter of Canadians (27 per cent) would have a “big problem” making their debt payments, the study found. Fully sixty per cent would at least have “some” problem making payments.

more at link

In loving memory of my son Chris April 12 1985-June 19 2007