Consumer Economic Pulse
Monitoring Uncertainty
Key Insights
Four things you should know
1
Economic confidence weakens as financial strain grows
2
More Canadians revisiting their streaing services this September
3
Interest in switching jobs and entrepreneurship higher among Gen Z and BIPOC Canadians
4
Most homeowners aren’t looking to sell, but those who are lean towards downgrading over upgrading
Perception of Canadian Economy
Current state
Following a decline in July, perceptions that we are now in a recession has increased from one-quarter of the population in July to one-third of the population September. An additional thrid of the population believes we are about to enter a recession.
September 19 - 22, 2025
Ability to afford household expenses over the past month
In September 2025, more Canadians are facing difficulties with managing their household expenses than in July, with the number being unable to pay their expenses without taking on additional debt bouncing back up to levels seen in May 2025 (13%; +5pp vs. July).
%
of Canadians are able to easily pay for their expenses and had enough money left over for other things
%
of Canadians are able to pay for their expenses and had just a little money left over for other things
%
of Canadians are unable to pay for their expenses and took on a little additional debt each month
Gen Z and BIPOC Canadians and Employment
Gen Z and BIPOC Canadians have very similar dynamics when it comes to employment in Canada. Both groups have troubling levels of unemployment and are more likely to move beyond the traditional job market to make ends meet.
Gen Z
Many are unemployed or feeling insecure about the job they have
14% Unemployed / 86% Employed
↓
↓
… but they are taking matters into their own hands
14% Work in the gig economy
21% Are considering/planning to set up a business
27% Have a side business
BIPOC
BIPOC Canadians feel even less secure but are also less likely to be actively looking in the traditional job market…
14% Unemployed / 86% Employed
↓
↓
… but they are taking matters into their own hands and are much more likely to consider starting their own business
14% Work in the gig economy
30% Are considering/planning to set up a business
21% Have a side business
Get the full Consumer Economic Pulse report here
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About the report
Angus Reid group conducts a monthly tracker to understand Canadians’ purchasing behaviors and perceptions of the economy.
Sample
Wave 39: n= 1,517
For this wave, a nationally representative sample of n=1,517 Canadian Adults (age 18+ yrs.) who are members of the Angus Reid Forum.
The sample frame was balanced and weighted on age, gender, region and education according to the latest census data. For comparison purposes only, a probability sample of this size would yield a margin of error of +/- 2.5 percentage points at a 95% confidence level.
Field Window
Wave 39: September 19 to 22, 2025
Next Field Date: October 2025
Study
With inflation continuing to ease, many households are still adjusting to higher prices and the cost of living.
The introduction of U.S. tariffs under President Trump in 2025 has added fresh uncertainty to the economic outlook, potentially influencing the cost of imported goods and further shaping consumer sentiment. The Angus Reid Group conducts a monthly tracker to monitor Canadian’s purchasing behaviors and perceptions of the economy amid these evolving conditions.
This study has been running since May of 2022.
