TORONTO — Consumer spending in Canada grew by 6.7 per cent in the third quarter of 2015 on a year-over-year basis, marking four consecutive quarters of growth, according to the “MonerisMetrics Quarterly Report” released by Moneris Solutions Corporation.
“We saw healthy increases in Canadian consumer spending last quarter, consistent with Statistics Canada’s finding that retail sales climbed in July and August, with sales rising more than expected in August,” said Angela Brown, president, CEO, Moneris. “This trend suggests Canadian consumers are feeling confident, and is a positive sign for retailers as we enter the busy holiday shopping season.”
Restaurant and retail sectors remain healthy, posting a 9.3-per-cent increase year-over-year. Fast-food restaurants led the way with a 15.4-per-cent increase, followed by bars and pubs (8.9 per cent) and dine-in restaurants (6.6 per cent).