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RBC Card Data Shows 1st Spending Fall Since July Around Labor Day

CANADA DATA
  • Royal Bank of Canada credit/debt card tracking shows spending -5.2% YOY as of Sept. 8, last decline was -5.7% on July 7
  • Spending likely distorted as Labour Day was on Sept. 7 this year as opposed to Sept. 2 in 2019
  • Data still shows that online shopping was strong amid reports of lingering outbreaks of Covid
  • Back-to-school shopping was weaker than normal. (Some parents opted for online learning)
  • Online grocery shopping continues to gain
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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