Canadian Restaurant Spending Up 7.8 Per Cent


TORONTO — Canadian consumer spending rose more than six per cent in the second quarter of 2015 on a year-over-year basis, according to the “MonerisMetrics Quarterly Report” released by Moneris Solutions Corporation. This is the third consecutive quarter in which consumer spending in Canada has increased. This quarter’s growth is on par with the first quarter of 2015, in which consumer spending increased 5.8 per cent.

“The consumer spending trends we witnessed in the first quarter of the year, in particular the strong increases in restaurant, retail and home-improvement spending, maintained their momentum throughout the spring,” said Angela Brown, president and CEO of Moneris. “The first half of this year has been great for Canadian businesses and hopefully sets a positive tone for the balance of the year.”

Restaurant spending overall posted a 7.8-per-cent increase year-over-year, suggesting consumer confidence remained high in the second quarter of the year. Within the category, quick-service restaurants led the way with a 12.5-per-cent increase, followed by bars and pubs (7.2 per cent) and dine-in restaurants (5.6 per cent).

According to Moneris, spending across Canada rose by 6.1 per cent overall, with increases of 6.4 per cent in April, 4.8 per cent in May and 6.7 per cent in June. All provinces posted increases in year-over-year spending during the quarter. British Columbia posted the strongest growth for the second consecutive quarter with a 9.2 per cent increase, followed by Ontario at 8.2 per cent. Alberta posted the smallest increase (nearly 2.0 per cent) followed by Quebec (3.7 per cent).

Spending on foreign credit cards increased by 14.1 per cent during the second quarter in 2014 — more than double the overall rate of increase.

“The low dollar has made Canada a comparatively affordable destination for foreign tourists, particularly our neighbours to the south,” said Brown. “With the additional interest rate cut announced last week, this is a trend we expect to continue in the near future.”

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