Household Debt in Canad Higher than any other Country

Canadian Household have a spending problem.

The ratio between Canada's household debt-to-GDP is at 101%. A number that dwarfs the percentage of any other country that was studied.

South Korea was the next highest at 92 percent, the United Kingdom was at 88 percent, the United States came in at 80 percent.

This high number would likely leave Canada in a difficult position should there be any shock to the economy.