Consumer Economic Pulse
Monitoring Uncertainty
Key Insights
Four things you should know
1
Despite tariff disputes, economic confidence sees a rebond; But pessimism still exists
2
Brand switching and shopping local is still gaining momentum
3
As trade tensions remain, “Buy Canadian – Bye American” patterns continue as well
4
Investment behaviour is changing, and confidence has eroded
Perspective on the economy
Current state of the economy
While the majority of Canadians still hold negative perceptions of the Canadian economy, confidence in the economy has been rising since December 2024 and has continued to rise despite recent tariff disputes; However, perhaps driven by a growing sense of patriotism, confidence is back to levels seen in July 2023.
April 21 to 25, 2025
Canada/U.S Relations
From Febraury to April, Canadians are increasingly cancelling their planned trips to the US and cancelling/reducing their US orders.
%
of Canadians have cancelled or postponed a planned trip to the United States
%
of Canadians have cancelled or reduced orders from US online retailers
%
of Canadians have cancelling one or more US based social account
Quebec and Alberta residents are the most likely to have not cancelled or postponed a planned trip to the US.
Affordability / Personal Spending Habits
Decrease in discretionary activities
In April 2025, a greater number of Canadians say they are reducing their spending on travel/vacation now than in February 2025.
While dinning out and food delivery continue on top of the list of discretionaty cutbacks, the trend may reflect a moderation in frequency rather than a full withdrawal from these activities.
%
of Canadians have reduced their non-essential activities and spending in order to save money; on par with February 2025
Grocery and Restaurants
Dining habits
Out-of-home dining habits have remained largely stable since January 2025, with 9-in-10 Canadians visiting an out-of-home dining location in the past month.
%
of Canadians have visited an out-of-home dining establishment in the past-month
%
of Canadians have dined indoors at a restaurant, fast food or food court
%
of Canadians have dined on a patio at a restaurant or fast food
Investing
Most Canadians are less confident in the stock market now than they were 6 months ago, likely driven by recent changes in the stock market and unease in the future of the economy.
%
of Canadians currently hold investments that are linked to the stock market
%
of Canadians investors are changing their investments or investment strategy as a result of recent volatility in the stock market
%
of Canadians are making adjustments on their investments to reduce risk
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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 34: n= 1,518
For this wave, a nationally representative sample of n=1,518 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 34: April 21-25, 2025
Next Field Date: May 2025
Study
With inflation easing in 2024, many households are still adjusting to higher prices and the cost of living.
The Angus Reid Group conducts a monthly tracker to understand Canadians’ purchasing behaviors and perceptions of the economy.
