Free Trial

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

CANADA DATA
(MNI) OTTAWA
  • 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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.