Economic pressures could impact credit performance of consumers, especially young adults

– financial challenges may be driving rise in multigenerational living – equifax canada market pulse quarterly consumer credit trends report toronto, aug. 27, 2024 (globe newswire) -- consumer debt levels rose to $2.5 trillion in the second quarter of 2024, marking a 4.2 per cent increase since q2 2023, according to the latest market pulse consumer credit trends and insights report from equifax ® canada. credit cards continued to be the primary driver of rising debt with outstanding balances reaching $122 billion, up 13.7 per cent from q2 2023.
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