More than half of Canadians will spend less this Christmas: Poll

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Canadians are trying to dig out from the fallout of inflation, according to the Angus Reid Institute.

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An Angus Reid poll found 56% of Canadians will spend less this Christmas.

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“These decisions are most prominent among those with lower income levels. Approximately three-in-five (61%) of those earning less than $50,000 annually say they are spending less on presents and decorating this year,” said the pollster.

“Fewer than half, but still 45% of those whose household incomes are above $200,000, say the same.”

The pollster concluded the same financial challenges will likely impact many struggling charities this holiday season, noting two in five respondents indicated they cut back on donations in recent months.

Half of Canadians say they are worse off now than they were a year ago.

But, one-in-five say their economic situation will improve over the next year, while 30% see their finances deteriorating.

Two-thirds of Canadians have cut back on discretionary spending in recent months.

Article content

Canadians are trying to dig out from the fallout of inflation, according to the Angus Reid Institute.

Article content

An Angus Reid poll found 56% of Canadians will spend less this Christmas.

Article content

“These decisions are most prominent among those with lower income levels. Approximately three-in-five (61%) of those earning less than $50,000 annually say they are spending less on presents and decorating this year,” said the pollster.

“Fewer than half, but still 45% of those whose household incomes are above $200,000, say the same.”

The pollster concluded the same financial challenges will likely impact many struggling charities this holiday season, noting two in five respondents indicated they cut back on donations in recent months.

Half of Canadians say they are worse off now than they were a year ago.

But, one-in-five say their economic situation will improve over the next year, while 30% see their finances deteriorating.

Two-thirds of Canadians have cut back on discretionary spending in recent months.