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September 12, 2024CANADA NATIONAL BALANCE SHEET ACCOUNTS, Q2 2024 
In the second quarter of 2024, Canadian national wealth (the total value of non-financial assets) increased 1.2% to $17,291.3 billion. This follows an increase of 1.4% in the first quarter. Residential real estate edged down marking the third decline in the previous four quarters. Financial assets increased despite weaker equity markets in the second quarter. Statistics Canada notes that wealth is not evenly distributed across households, with the top 20% of the wealth distribution holding 67.6% of household wealth in the first quarter.
Total assets, including financial and non-financial assets rose by 1.1% to $65,784.3 billion at the end of Q2 2024, following 2.2% growth in Q1 2024.
Household sector
Household credit market debt as a proportion of household disposable income decreased to 175.51% in Q2 2024.
In Q2 2024, household debt payments increased to 14.97% of disposable income. Mortgage interest payments were up 18 basis points to 5.65% of disposable income, while non-mortgage interest payments were up 9 basis points to 3.94% of disposable income. Principle payments contracted for mortgages and non-mortgage loans as a share of disposable income.
Government sector
At the end of Q2 2024, federal government net debt (book value) increased to 32.84% of GDP. Net debt of other levels of government declined to 16.29% of GDP.
Corporate sector
The credit market debt to equity ratio of non-financial private corporations rose to 57.11 cents of credit market debt for every dollar of equity in Q2 2024, up from 56.45 cents in the first quarter.
Source: Statistics Canada. Table 11-10-0065-01 Debt service indicators of households, national balance sheet accounts; Table 36-10-0580-01 National Balance Sheet Accounts (x 1,000,000); Table 38-10-0235-01 Financial indicators of households and non-profit institutions serving households, national balance sheet accounts; Table 38-10-0236-01 Financial indicators of corporate sector, national balance sheet accounts; Table 38-10-0237-01 Financial indicators of general government sector, national balance sheet accounts; Table 38-10-0238-01 Household sector credit market summary table, seasonally adjusted estimates
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