Households carried $1.25 of debt for every dollar of personal disposable income. Debt servicing charges remained unchanged at about 8% of personal disposable income.
Jump in export prices fuels GDP price increase: The price of goods and services produced in Canada, as measured by the chain price index for GDP, increased 2.5% in the second quarter, the largest quarterly gain since the first quarter of 1982. Export prices advanced sharply (+8.2%), providing an income boost for exporters. Excluding energy, overall prices advanced 0.7%.
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