As the Canadian economy adjusts to lower commodity prices, the economy continues to grow at a slow pace. There are still lingering concerns about food inflation and employment prospects for young Canadians. Also, house prices in the hot markets of Vancouver and Toronto have been climbing at an unsustainable clip. According to economists, house prices in these two cities have outpaced local economic fundamentals such as job creation, immigration and income growth.

This report delves into the personal finance lives of Canadians. We explore issues related to consumer confidence, what Canadians think about the national and local economy, their financial situation, spending and shopping habits and financial priorities and consumer confidence. We look at how the demographic groups differ in their attitudes and levels of financial preparedness and the ways in which Canadians are reacting to the economy. As families face the crunch of multiple priorities, we examine their shopping habits and spending behaviour. The report also looks at consumer attitudes towards the housing market and housing affordability.

Regional classifications

  • Prairie Provinces: Alberta, Saskatchewan and Manitoba.

  • Atlantic Provinces: New Brunswick, Newfoundland/Labrador, Nova Scotia and Prince Edward Island.

Income

Throughout the Report, income data refers to annual household income.

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