Canada’s household spending on goods, services hits $55,151 average

Statistics Canada published a new study that found the nation’s households spent on average $55,151 on goods and services in 2011, up from 2.7 percent in 2010.

The statistics agency said that 27.6 percent accounted for shelter, 20.4 percent was for transportation and 14.1 percent for food.

The province of Alberta had the highest rate of $64,453 on average, while the province of Prince Edward Island had the lowest average of $45,190. Couples with children spent on average $75,543 and seniors reported only $26,047 in household spending.

Canada’s household debt to income ratio stood at 164.6 percent in 2012. This is approximately the level of the United States before the economic collapse in 2007/2008. The nation’s total household debt is close to nearly $2 trillion (conservative estimate), up from $1.3 trillion in 2009.

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