Index of Consumer Spending for November 2025
Consumer Spending Strengthens as Holiday Promotions Boost Activity
Consumer confidence showed little improvement in October, based on our Index of Consumer Confidence. Fewer than 10 per cent of respondents expected job prospects to improve, and sentiment around major purchases remained low. This lack of confidence contributed to restrained spending on discretionary items, even in provinces where the ICS posted gains.
February 12, 2026 • 3-min read
2.4
points to
119.2
for November 2025
About the Series
The Index of Consumer Spending is Signal49 Research’s latest index and it is powered by exclusive consumer transaction data provided by Moneris Data Services. Moneris is Canada’s number one payment processor with over 3.5 billion transactions spanning more than 325,000 merchant locations.
Our monthly index tracks weekly year-on-year changes in consumer spending, enabling us to gauge economic activity levels across the country and provide insights into how the Canadian economy is performing coast to coast.
The Index of Consumer Spending has been produced since June 2022.
Methodology
The Index of Consumer Spending is powered by exclusive consumer transaction data provided by Moneris Data Services. Moneris is Canada’s number one payment processor with over 3.5 billion transactions spanning more than 325,000 merchant locations.
The index tracks year-over-year volume growth by comparing weekly net transaction volumes against the same week in the previous year. It operates on a fixed base period of April 2022 = 100 and uses raw, non-seasonally adjusted data to capture shifts in consumer behaviour. For consistent reporting, these weekly figures are aggregated into monthly periods following the retail 4–5–4 calendar to compare consumer demand at the national, provincial, and territorial levels.
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