Index of Consumer Spending
Powered by Moneris Data Services • Updated: August 29, 2023
Household Spending Continues to Dwindle
Throughout the month of June, the ICS experienced a steady deterioration, commencing from 87.7 points in the final week of May. Subsequently, during the weeks of June 4, 11, and 18, the index further declined from its initial starting point. Overall, it averaged 86.5 points, marking its lowest point since its inception.
August 29, 2023 • 8-min read
2.4 to 86.5
Previous Releases
Household Spending Falls to Its Lowest Point
Despite the small spending increase in April, May’s Index of Consumer Spending resumed the downward trend that began following January. This decline is reflected weekly, with the first week of May dropping 3.7 points from the final week of April. The week of May 7 wasn’t better, with the index dropping another 1.6 points to 88.5. Overall, it averaged 88.9 points in May, its lowest point since its inception.
July 24, 2023 • 8-min read
Households March Forward With Spending Increases
Inflation remains an ongoing concern around spending. In April, year-over-year inflation, as measured by the consumer price index, was at 4.4 per cent, still well above the Bank of Canada’s inflation target of 2 per cent. Another possible concern for consumer spending may be households’ proportion of disposable income.
June 14, 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.
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