Pocketbook concerns and even conflict abroad weigh on New Year’s Eve spending plans

MONTREAL — With Christmas and Boxing Day in the rear-view mirror, consumers have one event left for which they have to decide how much they’re willing to spend: New Year’s Eve. A wide range of worries has Canadians thinking twice about indulging in lavish celebrations, from pocketbook woes to COVID-19 concerns and even angst about armed conflict abroad. Average household spending during the holidays was slated to fall 11 per cent from last year due to persistent financial pressures, according to a Deloitte Canada study in October, one of several reports to forecast lower consumer expenditures. “Everything is expensive,” said Vivek Astvansh, a marketing professor at McGill University. Canada’s consumer price index hit a record high last month, with inflation…

Source: Yahoo
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