Figures released by Moneris on Tuesday (July 19) revealed that the strong home improvement segment played a major role in boosting credit-fuelled consumer activity on the second quarter of the year.
In an interview with BNN, Moneris CEO Angela Brown noted that the consistent performance of housing should come as no surprise.
“I think it’s a safe investment for a lot of consumers,” Brown said. “And when you think of the focus on real estate here in some of the major markets we’re measuring, I think investing in those homes and continuing to improve upon them is a good place to put your money.”
Q2 2016 saw double-digit rises in sales volumes among Canadian housing supply chain retailers, such as 13.09 per cent in home furnishing and 10.32 per cent in floor covering. As a whole, consumer spending grew by 5.53 per cent in that period.
Charitable contributions to Alberta also experienced a notable 21 per cent uptick in those three months, in the wake of the massive Fort McMurray blazes.
“The significant increase in charitable giving coinciding with the fires in Alberta shows how deeply moved Canadians across the country were by the devastating wildfires, and how willing they were to help those affected get back on their feet,” Brown said.
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