The MNP Consumer Debt Index, a quarterly snapshot of consumer sentiment in Canada, fell 15 points to 77 in a new low for the index that speaks to Canadians’ mounting concerns about their personal finances
Grant Bazian, president of insolvency firm MNP, said the results show how higher interest rates and inflation are hitting Canadian’s attitudes about their debt. Just under half of respondents, at 45 per cent, said they are $200 away or less from not being able to meet all their financial obligations, and 30 per cent said they already don’t make enough income to cover their bills. Those figures remained consistent from the last quarter.
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