Understanding Payment Processing: A Guide
Discover what payment processing is with Moneris. Learn how it empowers businesses and enhances customer transactions. Read more for insights.
In partnership with the Conference Board of Canada, we are pleased to present the following authoritative insights from their Index of Consumer Spending (ICS) which has been Powered by Moneris® Data Services. Our industry-leading consumer spending data and insights from point-of-sale activity combined with The Conference Board of Canada’s expertise provides a coast-to-coast perspective on how the economy is trending.
Rate cuts are helping to support consumer spending, but trade turmoil has reignited inflationary pressures challenging progress towards the neutral rate.
The Conference Board of Canada anticipates one additional rate cut this year. In April, the Bank of Canada opted to leave rates unchanged, reflecting the renewed inflationary risk. The Conference Board of Canada expects that the U.S. tariffs on Canada will remain in effect throughout the second quarter of 2025, with inflationary pressures beginning to ease in the second half of the year.
Low Consumer and business confidence are holding back ICS growth.
Low consumer confidence tends to stifle discretionary spending, with consumers allocating a greater portion of income to debt repayments or saving. Meanwhile, low business confidence causes firms to scale back or even freeze hiring plans. Over time, weaker job creation tends to push up the unemployment rate, negatively impacting income and spending. For the ICS to improve concretely, both business and consumer confidence will need to improve. However, this is easier said than done with the trade war creating enormous uncertainty surrounding the near-term trajectory of the economy.
About The Conference Board of Canada:
The Conference Board of Canada is the country’s leading independent research organization. Our mission is to empower and inspire leaders to build a stronger future for all Canadians through our trusted research and unparalleled connections.
Discover what payment processing is with Moneris. Learn how it empowers businesses and enhances customer transactions. Read more for insights.
As part of our latest partnership with the Retail Council of Canada (RCC) we are pleased to present this excerpt of their latest retail sentiment report
As part of the cooling labour market, employee wage growth has slowed down.
Streamline your nail salon operations with the right pos system for nail salons. Explore key considerations like employee management, reporting, and payment processing from Moneris. Learn more in this informative post