Index of Consumer Spending
Growth in Consumer Spending Continues Trending Downward
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
2.9 points to 92.7
This month, we look at the effects of employment levels, food prices, and inflation on consumer spending growth in Canada. Consumer spending growth remained relatively flat throughout October, but has it edged higher than recent months? How are Canadians adjusting their spending habits to cope with food inflation, which is sitting at 10.3 per cent? We share our findings for the week of September 25 to the week of October 16, considering the situation in each province and territory.
December 7, 2022 • 8-min read
Consumer spending growth remained relatively unchanged in September. After reaching 95.7 points in the final week of August, the Index of Consumer Spending (ICS) fell in the week of September 11. However, toward the end of the month, the index recovered.
October 21, 2022 • 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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