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

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.

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.

When it comes to discretionary goods and services, spending has flattened after several months of steady incline, while travel has cooled off following its peak in March.

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.