Savings & Retirement
Canadian Households Focus on Repairing Finances, Not Spending
- Poll douses hope for massive post-pandemic consumer splurge
- Three of four respondents want to pay down debt or save more
Shoppers wearing protective masks exit a Vancouver hardware store next to a closed Starbucks coffee shop in November 2020.
Photographer: Jimmy Jeong/BloombergThis article is for subscribers only.
Canadian households are preoccupied with shoring up their finances this year, according to a new survey, a thriftiness that could be a drag on the recovery.
Three out of four Canadians in a poll conducted by Nanos Research Group for Bloomberg News say their top financial priority is to pay down debt or retain an elevated level of savings. Only 11% said they plan to make a major purchase.