B.C.’s consumer spending continues upward spiral

British Columbians lead all Canadians in pulling out the plastic to buy, buy, buy. Alberta on province to spend less YOY.

  • Oct. 20, 2016 8:00 a.m.

Consumer spending breakdown across Canada

Consumer spending in Canada grew by 4.77 per cent in the third quarter of 2016 year-over-year, according to a debit and credit payments processing company.

The MonerisMetrics Quarterly Report was released by Moneris Solutions Corporation, “one of North America’s largest processors of debit and credit payments,” the company said in a press release Oct. 20.

The third quarter of 2015 saw an increase of 6.68 per cent relative to the third quarter of 2014.

“We are closing in on eight consecutive quarters of growth across nearly all major consumer categories,” said Angela Brown, president and CEO of Moneris. “Over the last few quarters, we have seen a trend toward a larger share of credit card versus debit card payments, which could be driven by a combination of factors, including the shift to online shopping, popularity of contactless payments, and Canadians’ preference for loyalty and rewards programs.”

Relative to 2015, consumer spending rose by 2.65 per cent in July, 5.93 per cent in August and 4.97 per cent in September. These findings are consistent with other economic indicators, including a report by Statistics Canada showing positive GDP growth in July.

With the exception of Alberta, all provinces showed positive spending increases in the third quarter of 2016. British Columbia (7.08 per cent) and Quebec (6.88 per cent) were among the provinces posting the highest growth.

This marks the fourth consecutive quarter of spending decreases in Alberta, with a drop of 2.66 per cent year over year.

Just Posted

Let it snow in Kelowna

Snow is in the forecast for this week

Photos: Adventuring in Stuart Park

Have you seen Friday’s edition of the Capital News? Check out the photos featured

Rutland students help less fortunate

At Rutland Senior Secondary, students are helping the homeless this holiday season

Lake Country seniors receive Christmas surprise

Hampers will be given to 20 lucky seniors in need next week

Column: Make it a green Christmas

Instead of purchasing a cuddly stuffie this year, put your money towards helping the real thing.

What’s happening

Find out about the events happening in your community this weekend

#MeToo at work: Employers play a role in fixing culture of harassment

B.C. workplaces are getting ahead of being the next MeToo debacle, calling on experts to train staff

B.C. woman brain injured in crash as a baby gets $1.1 million in damages

Trial heard the woman was 16 months old, being carried by her mother when they were both hit

Lind nets three in Rockets win; Dube and Foote named to Canada’s roster

Kole Lind returns from national junior camp to lead Rockets to victory in P.A.

Interior Health holding immunization clinic in Vernon Saturday

IH issues list of Okanagan meningococcal immunization clinics

Court denies WestJet’s bid to toss out discrimination lawsuit of former worker

Mandalena Lewis is suing WestJet over allegations of gender-based discrimination

VIDEO: 3 months later, rescued sea lion released back into ocean

The young animal was found in Campbell River three months ago

Annual Christmas meal held as Kelowna Gospel Mission

The meal will be held tomorrow from 12 to 6 p.m.

Most Read