TORONTO — A new report says Canadian consumer spending has grown across income groups, but only those in the top 20 per cent of earners saw their income growth fully match and support their higher spending.
The Boston Consulting Group report looked at household spending and income growth between 2021 and 2025.
It says that outside of the top 20 per cent, households covered their increased spending by relying more on savings, rising portfolio values and borrowing.
“For the middle 60 per cent of earners, the traditional bedrock of commercial demand, income growth covered just 57 cents of every dollar of new spending,” the report said.
“The lowest 20
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