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Wave 15

Consumer Economic Pulse

Monitoring Uncertainty

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Here’s what you should know:

Economic outlook is pessimistic 

Perceptions of the Canadian economy are at their worst since tracking began, with two-thirds of Canadians describing the economy as being in poor shape. Almost half of Canadians feel the economy will be in a far worse situation six months from now, the highest levels seen so far in 2023.


Canadians who feel the economy is poor or very poor


Canadians feel the economy is good or very good


Canadians who are not sure

Spending habits are shifting, with more Canadians cutting discretionary spending

As the number of Canadians with debt has increased significantly since July, there have also been notable changes over the last few months in spending habits. More Canadians are switching brands to save money on groceries, and discretionary spending has been reduced at restaurants and entertainment venues.

Brand switching categories

Since the start of the year, have you switched to a different brand/company than you usually purchase from to save money in any of the following areas? (% who have switched brands in each category)

Canadians are shopping around

While dining habits have remained largely unchanged, the change of season has resulted in more indoor dining and less patio dining. Canadians are making more notable changes to their grocery shopping habits, notably shopping at multiple retailers, and switching to discount brands.

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