Canadian net worth fell in third quarter

Dec. 14, 2009 at 3:40 PM
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OTTAWA, Dec. 14 (UPI) -- The national net worth of Canada dropped for the third consecutive quarter July through September, Statistics Canada said Monday.

Canada's net worth -- or non-financial assets minus foreign debt -- fell $75 billion to $5.9 trillion, largely due to escalating foreign debt.

With stocks on a rebound, household net work rose, gaining $127 billion, 2.3 percent, to $5.7 trillion, Statistics Canada said.

In the third quarter, the government's net worth also declined, falling by $29 billion due to increased government debt and a drop in the value of non-financial assets.

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