Scotiabank ESG and Financial Performance Update
Canada: Household Finances
HOUSEHOLD SAVINGS RATIO CONVERGING TO HOUSEHOLD CREDIT-MARKET DEBT ABOVE PRE-
PRE PANDEMIC AVERAGE 1
PANDEMIC 2
30
% of disposable income, SAAR
25
25
20
20
15
10
10
5
0
-5
92
22
سبد
200
% of disposable income, SAAR
180
160
140
120
100
Adjusted Canadian
-----Official Canadian
80
Official U.S.
94 96 98 00 02 04 06 08 10 12
14
16
18 20
22
60
92 94 96
98 00 02
04 06 08 10 12
14. 16 18 20 22
RATIO OF HOUSEHOLD ASSETS TO LIABILITIES
FALLING 3
HOUSEHOLD DEBT SERVICE RATIOS TEMPERED 1
-
750
%
700
650
600
550
o
500
16
% of disposable income, SAAR
14
Canada
12
10
8
Debt service ratio
6
(interest only)
U.S.
4
Debt service ratio
(principal and
interest)
450
Debt service ratio
(principal only)
400
2
350
0
92 94 96 98 00 02
04 06 08 10 12
14
16 18 20 22
22
92
94
96 98 00
02 04 06
08
10
12 14
16
18
20 22
1 Sources: Scotiabank Economics, Statistics Canada; 2 Sources: Scotiabank Economics, Statistics Canada, BEA, Federal Reserve Board; 3 Sources: Statistics Canada, Federal Reserve Board
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