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Canada Consumer Spending Has 1st YOY Rise Since Covid: RBC Card Data

CANADA
  • July spending +3% YOY, according to credit/debt card data tracked by Royal Bank of Canada
  • Support came from more stores opening and government income supports
  • Transaction values were little changed in June, down >20% in April YOY
  • "While spending in many categories was flat in July, spending on self-care and dining improved," RBC report Monday said.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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