Canadians cutting spending, delaying purchases amid tariff turmoil: MNP survey
Posted Apr 14, 2025 9:45 am.
Last Updated Apr 14, 2025 10:09 am.
A survey from insolvency firm MNP Ltd. suggests Canadians’ outlook for their personal finances has brightened even as they’ve taken steps to cut their expenses amid economic turmoil.
The latest MNP Consumer Debt Index conducted by Ipsos rose nine points to 88 this quarter over the previous one.
It says about three quarters of those surveyed have cut back on their spending or delayed major purchases due to uncertainty around U.S. tariffs and their potential impact on the global economy.
MNP president Grant Bazian says the tariffs have yet to make a full impact on household budgets and their on-again, off-again nature has given Canadians some optimism.
The survey also suggested interest rates continue to be a source of concern, but recent cuts have helped provide some breathing room.
Ipsos compiled the data from interviews with 2,000 Canadians between March 11 and 14. The polling industry’s professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.
