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16 May

Canadians Are Still Spending—And That Says More About Us Than the Economy

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Posted by: Murali Raveendran

There’s something quiet but telling about a home just after winter. The snow has melted, the light shifts, and you start to see what’s been hiding underneath—cracks in the pavement, a fence that needs tightening, maybe even a project you’ve been putting off. It’s not just about the house. It’s about the shift in us, too.

This April, even though Canadian consumer sentiment was scraping the bottom of the barrel, we chose to keep going. According to RBC’s latest spending tracker, Canadian cardholders didn’t just keep up—they spent more. Against the backdrop of economic doubt, we leaned into living. We booked dinners. We fixed up our spaces. We chose art, experiences, and groceries that brought people together. That’s not just spending. That’s hope in motion.

What the Numbers Say

Let’s break it down:

  • Overall spending rose 2% from March.

  • Discretionary spending—things like dining, entertainment, and home goods—increased by 2.5%.

  • Essential spending (groceries, fuel, etc.) also saw a 1.6% rebound, despite a dip in gas spending due to the April 1 carbon tax roll-off.

  • Travel spending dipped by 1.9%, as many Canadians opted to stay closer to home.

In short? Canadians are still buying—but they’re choosing what matters.

The Home at the Heart of It

For homeowners and soon-to-be homeowners, these choices are even more meaningful.

Take British Columbia, for example. The province saw a 3.1% jump in spending, led by household and construction-related purchases—likely tied to a rebound in the renovation and home improvement sectors. After a tough economic stretch for construction, this recovery signals a renewed investment in spaces that offer more than shelter—they offer a sense of control, comfort, and future.

Saskatchewan saw a 5.8% jump, while smaller provinces like P.E.I. and Newfoundland saw minor dips, though RBC notes these can often be chalked up to monthly fluctuations and sample size limitations.

The bigger message? Canadians across the country are making intentional decisions, even in uncertainty. And those decisions often circle back to one thing: home.

Why This Matters for You

If you’re a homebuyer wondering whether now is the right time to make your move, or a homeowner debating whether to upgrade or refinance, here’s the key takeaway: confidence doesn’t always show up in headlines—it shows up in action.

People aren’t waiting for everything to be perfect. They’re moving forward when it makes sense for them—emotionally, financially, and personally.

And that’s the real signal here. Despite low consumer confidence numbers in March and April, Canadians aren’t frozen in place. They’re adapting. They’re spending in categories that bring meaning—like home life, community, and creativity—even while pulling back in others like travel.

It’s not recklessness. It’s resilience.

Your Next Step Doesn’t Need to Be Huge

Whether it’s finally starting that renovation project, revisiting your mortgage to improve cash flow, or deciding it’s time to stop renting and start planting roots—this is your sign to take the next step.

Because the data isn’t just telling a story about money. It’s telling a story about people who still believe in what’s possible.