Index of Consumer Spending: June 2022
The Conference Board of Canada
June 17, 2022
After a decrease of 1.8 points in the third week of April, the Index of Consumer Spending rose to 105.9 points in the first week of May.
- Canadians are spending more on retail and travel services because mandates and restrictions have dropped.
- Consumer spending also seems higher because Canadians are paying more for goods and services in 2022 than they did in 2021 and 2020.
- With the Bank of Canada raising interest rates, consumer spending is likely to decline in the coming months.