Consumer Economic Pulse
Monitoring Uncertainty
Key Insights
Four things you should know
1
Pessimism in the economy holds through October
2
More Canadians are feeling financial strain
3
Canadians are anticipating cutting back this holiday season
4
Most holiday shopping focuses on travel and gifts
Perception of Canadian Economy
Six months from now
Half of Canadians expect the economy to be worse six months from now, a significant increase in pessimism from August 2025 (50%, +15pp). Only one-in-ten expect the economy to be better six months from now, highlighting a sharp increase in Canadians’ concerns about the future state of the economy.
October 10 - 15, 2025
Ability to afford household expenses over the past month
The number of Canadias who are able to easily manage their household expenses continues to drop, declining to levels last seen in July 2024 (26%, – 4pp vs. Sept). As well, there are more Canadians who are able to pay their expenses but have nothing left over now than at any point since tracking began (27%), showing more Canadians are struggling to afford their household expenses.
%
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
Holiday Spending vs Last Year
Two-in-five Canadians (42%) expect to spend less this holiday season than they did last year, while about half anticipate keeping their spending about the same.
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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= 1,533
For this wave, a nationally representative sample of n=1,533 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 40: October 10 – 15, 2025
Next Field Date: November 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.
