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December 12, 2022CANADA NATIONAL BALANCE SHEET ACCOUNTS, Q3 2022 
In the third quarter of 2022, Canadian national wealth contracted by 3.1% to $16,600.9 billion. This follows a revised increase of 1.5% in the second quarter of 2022. Residential real estate values contracted for the second consecutive quarter, while falling commodity prices eroded of the value of natural resource assets (excluding land) by 13.4%.
Total assets, including financial and non-financial assets decreased by 0.1% to $58,858.2 billion at the end of Q3 2022, following an 2.3% decrease in Q2 2022.
Household sector
In Q3 2022, Canada’s household sector net worth (value of all assets minus all liabilities) decreased by 2.1% ($331.7 billion) to $15,098.8 billion. There were continued contractions in equity, bond and housing asset valuations that erased any gains recorded between Q3 2021 and Q1 2022.
Household credit market debt as a proportion of household disposable income increased again to 183.3% in Q3 2022.
In Q3 2022, household debt payments rose to 13.97% of disposable income. Mortgage interest payments edged above 4% of disposable income for the first time since 2009 while non-mortgage interest payments pushed back above 3% of disposable income after 9 quarters below this threshold.
Government sector
At the end of Q3 2022, federal government net debt (book value) declined again to 34.8% of GDP. Net debt of other levels of government decreased to 16.0% of GDP.
Corporate sector
The credit market debt to equity ratio of non-financial private corporations rose to 57.64 cents of credit market debt for every dollar of equity in Q3 2022, up from 55.95 cents (revised) in Q2 2022.
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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