MNP Consumer Debt Index Results May 2018

2018-07-09   minute read

Grant Bazian

MNP Consumer Debt Index

Canadians are more reliant on debt than ever and the outlook for paying it off any time soon appears bleak. This is the story told by a recent Ipsos poll conducted by MNP LTD., which indicates a majority of Canadians (58%) believe a significant earnings increase is the only way they’ll be able to escape their debt. With the average household estimating a 37 percent wage boost would be necessary to pay off their creditors, it appears a poorly performing economy and nearly a decade of record-low interest rates have taken their toll.

Details behind MNP’s Consumer Debt Index, along with our provincial and national news releases can be found below.

MNP Press Releases

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