In 2022, the median family after-tax income of Canadians was $60,800, up by 2.5% from 2021, before adjusting for inflation. Adjusted for an annual rate of inflation of 6.8%, the 2022 median family after-tax income was 4.0% lower than in 2021.
In June, the total credit liabilities of households rose 0.2% (+$7.4 billion) to reach $2,962.4 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew 0.2% (+$5.5 billion). Household mortgage debt increased 0.2% (+$5.0 billion), a deceleration compared with May (+0.3%). In June, the policy interest rate decreased 25 basis points to 4.75%, the first change since July 2023.
In June, the number of urban transit passenger trips in Canada totalled 125.8 million, more than 82% of the June 2019 level, before the COVID-19 pandemic.9.
Canadian investors increased their exposure to foreign securities by $16.4 billion in June, mainly in US shares. Meanwhile, foreign acquisitions of Canadian securities slowed to $5.2 billion in June, down from significant investments in the previous two months.
In July, the preliminary number of international arrivals to Canada by air and automobile increased 6.5% from July 2023.
In April, the business closure rate edged down 0.1 percentage points to 4.5%, after holding steady at 4.6% over the previous three months. The opening rate was 4.6% in April, unchanged from the previous two months. In April, both the opening and the closure rates were 0.1 percentage points below their respective 2015-to-2019 historical averages.
The latest data from the Canadian Survey on Business Conditions indicate that, in the second quarter of 2024, about one in seven (14.1%) businesses across Canada were impacted to some degree by natural disasters or weather-related emergencies in the 12 months prior to the survey.
