New Brunswick consumer debt jumps
Average New Brunswicker owed $24,463 at the end of 2012
New Brunswick’s consumer debt load grew by almost $2,000 in the last year, according to a new report.
Credit monitoring firm TransUnion released new statistics showing how much debt Canadians owe.
The average New Brunswicker’s debt at the end of 2012 was $24,463, an increase from $22,734 at the end of 2011.
While the debt levels in New Brunswick are lower than the national average, it is following the same trend.
The TransUnion report says the average Canadian's consumer debt load increased at the fastest pace seen since 2009 at the end of last year.
"Increases in personal debt are not surprising during the final quarter of the year, as consumers tend to spend more during the holiday season," TransUnion's vice-president of analytics Thomas Higgins said this week.
"The rise on a year-over-year basis should be more concerning, as Canadians’ debt loads increased by more than $1,500."