Canadians Spend More on Home Improvement

Canadians are spending less on entertainment and dining and dedicating more discretionary income to travel and home improvement. According to a report from Moneris, a provider of payment processing solutions, “Purchases at home improvement stores rose by 8.49 percent over the same period last year, and spending on plumbing and heating equipment, and on electrical contractors climbed by 5.14 percent and 5.08 percent respectively.” Canadians are enthusiastic about DIY projects, but are still willing to hire help when necessary. Overall consumer spending in Canada only increased by .4 percent compared to the same time last year, a small but welcome growth after two stagnant quarters.

To read the full press release, click here.