The Province newspaper had a very interesting article over the weekend about consumer debt among B.C. residents. Here’s the (link).
According to the article, the average B.C. consumer has $37,879 in consumer (nonmortgage) debt. That’s 40 percent higher than the national average in Canada. In the U.S. there are a variety of studies that give different numbers, but the most common ones indicate the average American credit card debt is around $15,700 while consumer debt is around $22,000.
If B.C. consumer debt is that deep, it would seem a cutback in consumer spending is warranted. That could mean less spending in Whatcom County.