RBC: Canadian Consumer Spending Resilient Despite Energy Pressures
RBC analysts say Canadian consumers kept spending in Q2 even as real wage gains stayed weak and energy costs rose.
Royal Bank of Canada analysts Rachel Battaglia and Abbey Xu noted that Canadian consumers continued to spend during the second quarter. The resilience in household outlays came despite subdued real wage growth and higher energy pressures.
The observations point to a mixed backdrop for the Canadian economy: spending is holding up, but purchasing power is facing strain from weak wage gains and elevated energy costs.
The note did not provide additional detail in the shared excerpt, but the tone suggests domestic demand remains steady for now even with ongoing cost pressures.
Source: FXStreet Forex News