The Canadian Press

2016-06-30 | Consumer Spending CIBC

Preview Clip

A new survey says Canadians plan to keep a close watch on their wallets when it comes to discretionary spending this summer. The poll from CIBC quoted respondents as saying they planned to spend 25 per cent less on things like summer travel, dining and recreation -- as well as purchases such as barbeques and sports equipment. Canadian Press reporter Michael McDonald says consumer spending is generally more spontaneous in the summer. (Jamie Golombek, managing director at CIBC's Wealth Strategies Group, says cutting back on spending doesn't mean cutting back on the fun -- adding consumers can stretch their dollars with some planning and smart budgeting.)

Date: 2016-06-30
Placeline: TORONTO.
Source: The Canadian Press
Length: 12 seconds

Transcript Prediction: << the survey found that respondents make most of their impulse purchases in the summer 67% on average compared with 17% in Winter 9% in the spring and 7% in the fall >>