Spending at restaurants in 2014

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Budget squeeze: Spending at restaurants in 2014
July 10, 2014
Spending at restaurants in 2014

Spending at restaurants is largely determined by household budgets, which are being squeezed by modest disposable income growth and rising household debt.

  • $27,743 Average household debt (excluding mortgages) in 2013
  •  $28,853 Average household debt (excluding mortgages) in 2014
  • 164% Total debt as a share of disposable income in 2013
  • 87% Total debt as a share of disposable income in 1990
  • Paying down debt (16% of respondents) Number one financial priority in 2014
  • Build up savings (11% of respondents) Number two financial priority in 2014
  • $2,413 Average annual household spending at restaurants
  • 3.3% Restaurant share of total housheold budget
  • Alberta $2,784 Province with the highest annual spending at restaurants
  • Newfoundland and Labrador $1,905 Province with the lowest annual spending at restuarants
  • 3.8% Disposable income growth in 2013
  • 3.5% Forecast of disposable income growth for 2014
  • 5.5% Savings rate in 2013
  • 5.0% Forecast of savings rate for 2014

Sources: Statistics Canada, TransUnion, Harris/Decima and TD Economics    

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