Measure the expected change, the personal exposure and the intended response separately.
The published signal
The Bank of Canada’s second-quarter 2026 consumer survey reported that concerns about high prices and uncertainty continued to restrain spending plans. It also described modest improvement in perceptions of the labour market. Interviews for the online survey took place from 27 April to 21 May, with follow-up calls later in May.
The distinction that matters
A household can feel more secure about employment while remaining cautious about a large purchase. These are separate judgments, not necessarily contradictory responses. Our interpretation is that a single confidence score can conceal the combination of expectations that matters most for a particular market.
A better research brief
For a purchase study, ask about expected household income, anticipated category prices, planned timing and the option to delay. Report stated intentions as intentions. Follow-up measurement or transaction data would be needed to establish whether people acted on them. The Bank’s findings are third-party evidence; Northbound did not conduct this survey.
Evidence note. This retrospective was first published on 25 October 2026. Its period label refers to the underlying event or data, not an earlier publication. Source material may include final figures published after the period covered. Northbound’s interpretation is identified separately from reported findings. Read our publication policy.