Canadian spending habits showing early signs of slowing, RBC report finds

📆 8/10/2023 8:20 PM
📰 BNNBloomberg

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A new report from RBC found spending in Canada has showed signs of slowing in July, with retail sales excluding vehicles still climbing, but now at a slower rate.

BNN BloombergIt appears interest rate hikes have finally made a pinch on Canadians’ spending habits.spending in Canada has showed signs of slowing in July, with retail sales excluding vehicles still climbing, but now at a slower rate.

Restaurant spending, meanwhile, has been on a steady incline since January 2022, but RBC notes the latest figures represent an increase in prices, rather than more restaurant visits.

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