Canadian households are buying more, with spending up about 2 percent in the first quarter of 2026, but many are spending more than they earn, a new report indicates.
Except for top 20 percent of earners, the increase in spending isn’t coming from income but being covered by savings, borrowing, and growth in households’ investment portfolios. In addition, much of the higher spending isn’t going toward buying goods but rather toward financial services linked to borrowing and asset-linked fees, a report by the Boston Consulting Group, published July 9, indicated.
Spending on essentials has remained the same, the report said, adding that are purchases of durable goods such as cars, furniture, and appliances are falling….