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The State of Panels: Buyer Beware
Buyer beware: Proceed with caution and clarity
Wave 15
Consumer Economic Pulse
Monitoring Uncertainty
Here’s what you should know:
Economic outlook is pessimisticÂ
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.
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Canadians who feel the economy is poor or very poor
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Canadians feel the economy is good or very good
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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.
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.
