Equifax

Average commercial debt per business rose 7.3 per cent year-over-year to $30,581, while the 60-plus-day delinquency rate on financial credit products reached 4.0 per cent, its highest level since 2019 and a 19.7 per cent increase from a year earlier.

First party fraud rates across Canada rose 31 per cent year-over-year between Q4 2024 and Q4 2025.

Total consumer debt climbed to $2.65 trillion in Q4 2025, a 3.13 per cent increase year-over-year, driven by a $50.26 billion rise in mortgage balances and a 4.50 per cent jump year-over-year in non-mortgage debt.

"Strong holiday demand can give businesses the momentum they need to start 2026 on firmer ground, but elevated debt levels mean the margin for error remains thin."

1.45 million consumers in Canada missed a credit payment in Q3, more than 46,000 higher than in Q2.

An Equifax Canada survey finds small business owners facing rising costs and credit concerns as wages, demand and debt weigh on profitability.

Pullback in consumer spending is impacting businesses that rely on discretionary spending, says Equifax.

Total consumer debt was $2.55T at the end of Q1, up four per cent year-over-year, according to Equifax

Equifax says small businesses face an uphill battle this holiday season.

The slowdown in consumer credit card spending and increased missed credit payments may have a direct impact on retail businesses as we enter the holiday season

Consumer debt in Canada reaches a signifiant number with credit card balances hitting a 17-year high amid economic pressures.

Equifax notes a correlation between interest rate hikes and delinquencies, among other concerning trends.

It's a perfect storm for disaster with high interest rates, increasing costs and other financial obligations impacting retailers, with insolvencies surging 30% over 2019.