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Young people and newcomers fuel runaway debt growth: report
Young people and newcomers fuel runaway debt growth: report

National Post

time3 days ago

  • Business
  • National Post

Young people and newcomers fuel runaway debt growth: report

The latest TransUnion debt report shows total debt continued to grow in the first quarter compared with the year before, driven mainly by young people and newcomers. Article content Article content The credit-tracking agency says gen Z consumers saw their outstanding balances grow 30.6 per cent from the prior year. Article content The report says total outstanding debt grew 4.7 per cent to $2.5 trillion in the first quarter year-over-year. Article content Article content Article content

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