Canadians aren't saving like they used to and that doesn't bode well for anyone

The low savings rate leaves Canadians more vulnerable to an economic shock and signals consumption-led growth in the economy is nearing its end.

The savings rate in Canada has dipped to the lowest in more than a decade, a sign consumption driven growth may be nearing an end.

Statistics Canada reported Friday the household savings rate, which represents the proportion of disposable income that remains after spending, fell to 0.8 per cent in the third quarter, the lowest level since early 2017. It’s averaged 1.4 per cent over the past year, the worst on an annual basis since 2005.

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