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After a decrease of 1.8 points in the third week of April, the Index of Consumer Spending rose to 105.9 points in the first week of May.
Canadians are spending more on retail and travel services because mandates and restrictions have dropped.
Consumer spending also seems higher because Canadians are paying more for goods and services in 2022 than they did in 2021 and 2020.
With the Bank of Canada raising interest rates, consumer spending is likely to decline in the coming months.
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