Index of Consumer Spending

Moneris logo

Growth in Consumer Spending Recovers

The ICS climbed 11.0 points between the weeks of December 11 and December 25, pushing past the 100.0-point benchmark for the first time in 27 weeks. This recovery was mainly driven by holiday spending. The upward trend was short-lived, however, as growth in consumer spending decelerated in the first two weeks of January.

March 2, 2023   •   8-min read

Arrow pointing up

7.0 points to 99.4

Previous Releases

Stagnant Growth in Consumer Spending Throughout December

In November, the inflation rate was 6.8 per cent year-over-year. Canadians have truly felt the pinch when it comes to food and shelter costs. Inflation for both increased in November, which certainly influenced consumer spending behaviour.

February 2, 2023  •  8-min read

We expect an uptick in consumer spending throughout December thanks to the winter holidays. Spending on high-contact services will remain strong, while demand for durable goods will likely continue to fall. We anticipate another interest rate increase in January 2023, along with decelerated growth in consumer spending.

January 26, 2023  •  8-min read

The Index of Consumer Spending is The Conference Board of Canada’s latest index and it is powered by exclusive consumer transaction data provided by Moneris Data Services. Moneris is Canada’s number one payment processor with over 3.5 billion transactions spanning more than 325,000 merchant locations. Our index tracks weekly year-on-year changes in consumer spending, enabling us to gauge economic activity levels across the country and provide insights into how the Canadian economy is performing coast to coast.

Updates on this index will be released monthly.



Woman looking at co-worker during a meeting

Stay Informed

As the country’s largest private economic analysis and forecasting unit, we are here to help leaders cut through the noise and make informed decisions to build the Canada of tomorrow.