Persistently high inflation is prompting more Canadians to hold off on buying big\u002Dticket items, a new poll finds.
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“This adds up to an emerging consumer spending chill,” Nik Nanos, founder of the polling firm, said by email. “Consumers are buckling up for an economic downturn in 2023.” Households in Canada already have relatively high debt levels compared with many other developed countries — that’s a big reason why the economy is expected to slow more quickly than the US in response to higher borrowing costs..Poll respondents said they aren’t getting much help from their employers to ease the rising cost of living: 87% of employed Canadians said they received no special raise to offset inflation.
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