Household Spending Index
Household spending makes up more than half of the Canadian economy. Since women make or influence 70-80% of household purchases, the Index will be an important barometer of confidence in the Canadian economy during the COVID-19 recovery and post-recovery periods. The Prosperity Project Household Spending Index (HSI) is an economic index which tracks the monthly variation in economic activity based on a panel of diverse women who purchase products and services for their homes. They are representative of all socio-economic groups and of Canada’s population geographically.
The HSI will be released on this website on the first Thursday of each month at 10 am ET beginning on Thursday September 10.
The Index uses month-end data, revealing patterns of spending and decisions not to spend. It shows the responses to the question: “Were your household purchases this month in dollars higher, the same or lower than last month across 13 spending categories: housing, food (at home, away from home), clothing, childcare (if applicable), transportation (automobile and public transit expenses), education (tuition, private tutoring, on-line courses) communications (cable, satellite, telephone and internet), Computer equipment and supplies, recreation and entertainment (sports equipment, gym memberships, streaming services, live concerts and theatre), leisure travel (accommodation, airfare, train fare, food and beverage, activities) investments (including pension, stocks and bonds, RRSP and TFSA contributions, life, critical illness and disability insurance), charitable contributions, and tobacco, alcohol and cannabis?
The HSI tracks spending by type of household and income level. The four types of households are single, a couple with no children, a couple with children and a single-parent family. Households are divided into five equal groups, or quintiles, based on total income. The HSI therefore covers the poor, the wealthy, the unemployed, employed and self-employed, professionals and the retired in urban and rural communities in each province and territory.