MNP Consumer Debt Index rebounds from all-time low, but concern about inflation and interest rates linger
Personal finances continue to be a major source of stress for Canadians, and half anticipate that the situation will continue to deteriorate, according to the latest MNP Consumer Debt Index conducted quarterly by Ipsos. When asked about the impact of Canada’s current economic conditions on their personal finances, half (50%) say they believe the worst is yet to come, while a third (35%) feel we are currently experiencing the worst part of the economic cycle. Fewer are optimistic about the future, with only 15 percent stating that the worst is behind us.
“Facing both inflation and drastically higher interest rates on their outstanding debts, deeply indebted Canadians may be right to be feeling that the worst is yet to come,” says Grant Bazian, president of MNP LTD., the country’s largest insolvency firm. “There isn’t much financial wiggle room in many household budgets, which illustrates the toll of higher interest rates — especially for those who can least afford it.”

Details behind MNP’s Consumer Debt Index, along with media coverage and our provincial and national news releases can be found below. To view data from previous releases of the MNP Consumer Debt Index, visit our Historical Data page.
Debt Index Results for April 2023
Press Releases
- National: Canadians on the economy: Half say the worst is yet to come
- B.C.: British Columbians on the economy: Half say the worst is yet to come
- Ontario: Ontarians on the economy: Half say the worst is yet to come
- Saskatchewan: Saskatchewan and Manitoba residents on the economy: More than half say the worst is yet to come
- Alberta: Albertans on the economy: More than half say the worst is yet to come
- Nova Scotia: Nova Scotians on the economy: More than half say the worst is yet to come
- New Brunswick: New Brunswickers on the economy: More than half say the worst is yet to come
- Newfoundland: Newfoundlanders on the economy: More than half say the worst is yet to come
- Prince Edward Island: Prince Edward Islanders on the economy: More than half say the worst is yet to come
- Manitoba: Manitoba and Saskatchewan residents on the economy: More than half say the worst is yet to come
- Quebec: Quebecers on the economy: Two in five say the worst is yet to come
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MNP LTD, a division of the national accounting firm MNP LLP, is the largest insolvency practice in Canada. For more than 50 years, our experienced team of Licensed Insolvency Trustees and advisors has been working with individuals to help them recover from times of financial distress and regain control of their finances. With more than 240 offices from coast to coast, MNP helps thousands of Canadians each year who are struggling with an overwhelming amount of debt. Visit MNPdebt.ca to contact a Licensed Insolvency Trustee or use our free Do it Yourself (DIY) debt assessment tools. For regular, bite-sized insights about debt and personal finances, subscribe to the MNP 3-Minute Debt Break Podcast.
About the MNP Consumer Debt Index
The MNP Consumer Debt Index measures Canadians’ attitudes toward their consumer debt and gauges their ability to pay their bills, endure unexpected expenses, and absorb interest-rate fluctuations without approaching insolvency. Conducted by Ipsos and updated quarterly, the Index is an industry-leading barometer of financial pressure or relief among Canadians.
Now in its twenty-fourth wave, the Index has rebounded to 89 points, up 12 points from the all-time low recorded last quarter. Visit MNPdebt.ca/CDI to learn more.
The data was compiled by Ipsos on behalf of MNP LTD between March 7 and March 14, 2023. For this survey, a sample of 2,004 Canadians aged 18 years and over was interviewed. Weighting was then employed to balance demographics to ensure that the sample’s composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±2.5 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to, coverage error and measurement error.
Latest Consumer Debt Index Blog Posts
2023-04-11
Canadians on the economy: Half say the worst is yet to come
MNP Consumer Debt Index
Personal finances continue to be a major source of stress for Canadians, and half anticipate that the situation will continue to deteriorate, according to the latest MNP Consumer Debt Index conducted quarterly by Ipsos.