Continued growth in consumer spending is good news for Canadian businesses, according to a new report.
Moneris President Angela Brown says we are now in a period where we are building on continued growth which is an encouraging sign.
Consumer spending in New Brunswick grew 10.4%, almost double the national average of 6.24% for the first quarter of the year.
These numbers agree with economic indicators from Statistics Canada showing increases in employment, retail sales, and GDP since January.
Credit card spending increased 8.36% to total 64.66% of consumer spending on cards.
Debit card spending rose 2.57% to account for 35.34% of card spending.
The full details of the report are available below.
Spending on women’s apparel rose 11.19% Q1 2016. Check out our new spending report: https://t.co/wFbv0NwRSb #Canada pic.twitter.com/GksnAbzL7i
— Moneris (@Moneris) April 14, 2016
