TORONTO — Consumer spending in Canada grew by 4.77 per cent in the third quarter of 2016 on a year-over-year basis, according to the MonerisMetrics Quarterly Report released by Moneris Solutions Corporation.
During the quarter, fast-food experienced the greatest spending increase, growing by 12.2 per cent for the county.
With the exception of Alberta (down 2.66 per cent), all provinces showed positive spending increases in the third quarter of 2016. British Columbia (7.08 per cent) and Quebec (6.88 per cent) were among the provinces posting the highest growth.
The report also identified the top three countries for tourism spending in Q3. Foreign card spending from U.S. and U.K. visitors both experienced double-digit year-over-year increases, growing by 12.6 per cent and 10.9 per cent respectively. Chinese tourism spending was also up (9.8 per cent).