Debt Worries May Put Damper on Holiday Buying

Feelings of financial insecurity could overwhelm the Christmas giving spirit, making Canadians less likely to splurge on holiday shopping this season, according to a survey released Tuesday by Deloitte Canada.

With a growing number of respondents pessimistic about the economy and more people choosing to pay down their debts, holiday budgets could be squeezed.

Only 29 per cent of Canadians surveyed said they expect the economy to improve in the coming year, while 33 per cent thought it will decline, the report found.  Read More…


  1. This kind of thing is cyclic. The same thing was said last year and then we had a record holiday season. Nothing to see here folks.

  2. At least i did my part and bought Call of Duty Modern Warfare 3 a few days ago 🙂

  3. Not sure i agree. Based on the numbers this article is over speculating. Interestingly, it seems more psychological than anything else.

  4. I’ve been seeing all kinds of sectors posting lows for this fall so it seems set we are going to a less then stellar xmas season.

  5. Now add on top the coming internet tax and shopping online will also take a hit. Right now i think the real issue is brick and mortars having a tougher time competing against online resources.

  6. What was most impressive is that the US confidence is at 45 while here it is 75. Sounds to me everything is fine and dandy.

  7. This may not be the case for those living in Ontario as it could be for other parts of Canada. Seeing as how most live in Ontario then i see no problem with that. 🙂

  8. When will Canadians learn to control their debt habits. Yes it is enticing to take on another credit card at 0% but when you dont plan ahead to pay back your balance then you are setting yourself up for a disaster.

  9. The government needs to put a control on how much Canadians can take on as debt. Someone needs to play adult because the adults in the room arent it.

  10. Christmas holiday shopping is overrated.

  11. I am one of those is bad debt that i think our family shopping will be limited this season. It’s disappointing but i have no choice.

  12. Harper could issue stimulus cheques this xmas to spur shopping. That will always work.

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