BoC Q4 Canadian Survey of Consumer Expectations: Concerns over high prices and economic uncertainty related to the trade conflict continue to have a negative impact on consumers
Importance
Level 1
- Consumers perceived a higher likelihood of missing a debt payment and a slightly greater chance of losing their job. In this context, consumers reported weaker spending plans. Still, they perceive a greater chance than last quarter of finding a job or voluntarily leaving their job.
- Expectations for near‑term inflation remain higher than they were before the pandemic, while those for long‑term inflation eased below pre‑pandemic levels.
- Tariffs are still the most frequently cited driver of inflation, although a little less so than last quarter.
- Overall, the Canadian Survey of Consumer Expectations (CSCE) indicator declined slightly and remains subdued in the fourth quarter.
- A modest deterioration in financial health and household spending intentions contributed to this drop, while labour market conditions improved slightly from low levels.
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