Canada's National Balance Sheet Accounts for 2011 Q2 were released today. Here is a good summary, courtesy of Statistics Canada.
For my part, the most important piece of information that I retain from these accounts is that Canada's personal debt-to-GDP has reached a new record high of 94.08 percent.
Another interesting development is that real estate as a percentage of personal disposable income has jumped to 296.37 percent, the second highest level on record. For those who see trouble ahead in Canada's economy and, more specifically, its real estate market, such figures are not encouraging.
One thing is for sure, there's nothing in these accounts to reassure federal policymakers who, since the fall of 2010, have been raising concerns about Canada's increasing household indebtedness levels.