Stagnant Growth in Consumer Spending Throughout December: Index of Consumer Spending—January 2023

Name: Stagnant Growth in Consumer Spending Throughout December: Index of Consumer Spending—January 2023
SKU: 11970-0405-WEB
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Canadian Economics

February 2, 2023

Consumer and Business Confidence

Author: David Ristovski

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The Index of Consumer Spending 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.

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This month, labour markets and inflation were the big influences on consumer spending growth in Canada.

Growth in consumer spending was relatively flat again through December, but with interest rates high and demand for durable goods in decline, why is spending not falling? How have labour markets affected the provinces and territories? We share our findings for the week of November 20 to December 11, considering the situation in each province and territory.

Read the online experience to get our full analysis.