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March 13, 2025
Canadian National Balance Sheet Account, 4th Quarter 2024
In the fourth quarter of 2024, Canada’s national wealth (total non-financial assets) rose 0.7% to $1.7147.8 billion. This follows a 0.8% decline in the third quarter. Residential real estate closed in the fourth quarter after two consecutive declines. Financial assets increased as the stock market continued to grow in the fourth quarter. Statistics Canada notes that wealth is not distributed evenly among households, with the wealthiest (top 20% of wealth distribution) and the unlucky (bottom 40% of wealth distribution) falling to 61.4 percentage points in the third quarter of 2024.
Following a 2.7% growth in the fourth quarter of 2024, at the end of the fourth quarter of 2024, total assets, including financial and non-financial assets, rose 2.2% to $6,8689.9 billion.
Household sector
Household credit market debt rose to 172.83% in the fourth quarter of 2024, the first increase since the first quarter of 2024.
In the fourth quarter of 2024, household debt payments fell to 14.35% of disposable income. Mortgage interest payments fell 15 basis points to 5.21% of disposable income, while non-malt interest payments fell 12 basis points to 3.66% of disposable income. Key payments increased as shares of disposable income on both non-malt and mortgages.
Government sector
At the end of the fourth quarter of 2024, the federal government’s net debt (book value) increased to 32.65% of GDP. The government’s other levels of net debt increased to 16.86% of GDP.
Corporate Sector
Credit debt for equities in non-financial private companies rose to 59.29 cents per share in the fourth quarter 2024, up from 57.94 cents in the third quarter.
Source: Statistics Canada. Table 11-10-0065-01 Debt repayment indicators for households, national balance sheet accounts. Table 36-10-0580-01 National Balance Sheet Account (x 1,000,000); Table 38-10-0235-01 Financial indicators for households and nonprofit institutions that serve households and national balance sheet accounts. Table 38-10-0236-01 Financial indicators for the corporate sector, national balance sheet account. Table 38-10-0237-01 General government sector financial indicators, national balance sheet accounts. Table 38-10-0238-01 Summary of household sector credit markets, seasonally adjusted estimates
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