Canada’s consumer spending is weaker than people realize, says CIBC ...Middle East

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Canada’s consumer spending is weaker than people realize, says CIBC
Breadcrumb Trail Links News Bank of Canada will need to cut deeper than markets expect Published Jan 23, 2024  •  4 minute read Consumer spending in Canada is nearing levels seen in past recessions, says economist. Photo by Getty Images Article content Article content Consumer spending, that engine of growth, is weaker than most people realize and that could get ugly for the economy, warns a CIBC economist this week. Senior economist Andrew Grantham says the volume of spending in this country, on a per-person basis is well below pre-pandemic levels and nearing levels seen only in recessions. Aggregate consumer spending adjusted for inflation has risen almost 2 per cent

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