| Budget squeeze: Spending at restaurants in 2014 July 10, 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
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| - 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
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| - 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 | |  | | < Back | |  | | | Copyright © RestoBiz. All rights reserved. | |
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