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Latest Research
Canada’s Consumer Story Isn’t a Big Spender Tale
Historically high stock prices have raised questions about whether the recent strength in consumer spending is driven by wealth gains among higher income households. This is what economists call “wealth effects”. Some U.S. economists have recently argued that spending growth south of the border now rests heavily on the highest earners. In Canada, however, the recent strength in consumer spending has been more broad-based across income cohorts.
October 23, 2025
Media
WATCH: James Marple discusses how the new legislation on stablecoins could reshape the U.S. payment system on MoneyTalk
The U.S. recently passed landmark legislation to regulate so-called stablecoins, or digital tokens that are designed to maintain a fixed value against assets such as the U.S. dollar. James Marple, Associate Vice President and Senior Economist with TD Bank Group, says while the new legislation is not without risks, it could potentially reshape the U.S. payments system making remittances and trade payments faster, cheaper and more reliable.
October 06, 2025
Updated Publications
Provincial Housing Market Outlook: Location, location, location
We’re tracking somewhat firmer third quarter growth for Canadian home sales than we expected in June. This implies that pent-up demand built earlier in the year (amid peak uncertainty) returned at a larger-than-expected magnitude. This notion is laid bare by the upside surprises in B.C. and Ontario, where pent-up demand is the largest.
October 02, 2025
Economy
Canada’s Consumer: Monetary Policy in Action
Canadian consumer spending has been remarkably robust, despite a weak first quarter of 2025. This has been primarily driven by lower interest rates that have encouraged households to spend rather than save, even as the labour market and housing sector remain subdued.
October 01, 2025
Updated Publications
Canadian Quarterly Economic Forecast
Despite all the twists and turns in U.S. trade policy, our forecast for the global economy is broadly unchanged from our June view. Ditto for the U.S. economy, at least on the surface. Consumers have pulled back as the labor market has cooled, but that has been offset by strong business investment. The Fed is expected to cut interest rates further to support the labor market that has cooled further than previously believed. Canada’s exports have been hit hard by U.S. tariffs, but consumer spendi
September 18, 2025
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Updated Publications
Updated Publications
Weekly Bottom Line
October 24, 2025
Updated Publications
Provincial Housing Market Outlook: Location, location, location
October 02, 2025
Updated Publications
Provincial Economic Forecast
September 22, 2025
Updated Publications
Canadian Quarterly Economic Forecast
September 18, 2025
Previous
Next
Updated Publications
Weekly Bottom Line
October 24, 2025
Updated Publications
Provincial Housing Market Outlook: Location, location, location
October 02, 2025
Updated Publications
Provincial Economic Forecast
September 22, 2025
Updated Publications
Canadian Quarterly Economic Forecast
September 18, 2025
View more updated publications
Latest Research
Latest Research
Canada’s Consumer Story Isn’t a Big Spender Tale
October 23, 2025
Media
WATCH: James Marple discusses how the new legislation on stablecoins could reshape the U.S. payment system on MoneyTalk
October 06, 2025
Economy
Canada’s Consumer: Monetary Policy in Action
October 01, 2025
Media
WATCH: Leslie Preston looks at the impact of trade action on Canada's provincial economies
September 23, 2025
Previous
Next
Latest Research
Canada’s Consumer Story Isn’t a Big Spender Tale
October 23, 2025
Media
WATCH: James Marple discusses how the new legislation on stablecoins could reshape the U.S. payment system on MoneyTalk
October 06, 2025
Economy
Canada’s Consumer: Monetary Policy in Action
October 01, 2025
Media
WATCH: Leslie Preston looks at the impact of trade action on Canada's provincial economies
September 23, 2025
View more latest research
Commentaries
Consumer
Canadian Retail Sales (August 2025)
October 23, 2025
Commentaries
Canadian Consumer Price Index (September 2025)
October 21, 2025
Commentaries
Bank of Canada Business Outlook Survey and Canadian Survey of Consumer Expectations (2025 Q3)
October 20, 2025
Real Estate
Canadian Existing Home Sales (September 2025)
October 16, 2025
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Next
Consumer
Canadian Retail Sales (August 2025)
October 23, 2025
Commentaries
Canadian Consumer Price Index (September 2025)
October 21, 2025
Commentaries
Bank of Canada Business Outlook Survey and Canadian Survey of Consumer Expectations (2025 Q3)
October 20, 2025
Real Estate
Canadian Existing Home Sales (September 2025)
October 16, 2025
View more commentaries
