Canadian Card Spending Holds Steady in June, RBC Says
RBC reports that Canadian cardholder spending remained stable in June, with core retail sales edging higher. Discretionary goods led gains, while essential spending including gasoline was subdued.
According to RBC analysts Abbey Xu and Rachel Battaglia, spending by RBC Canadian cardholders in June was relatively stable compared to prior periods. Core retail sales posted a modest increase, driven primarily by discretionary goods categories.
Essential spending, including gasoline, showed less momentum. The report underscores cautious optimism about consumer demand, though the overall pace remains subdued.
Source: FXStreet Forex News