I have been keeping an eye on RBC cardholder spending data for the past couple years and it’s an increasingly-useful and timely measure of Canadian retail sales. <\/p>\n
The latest version is just out and it paints a mixed picture. Core sales rose a solid 0.4% m\/m in August but the headline fell 2.2% m\/m. Dragging down the headline was s dip in gasoline prices.<\/p>\n
Spending on clothing along with the ‘arts and entertainment’ categories accelerated while the ‘household and construction’ category softened slightly. Spending at grocery stores has been largely flat since May.<\/p>\n
RBC economist Rachel Battaglia focused on the rise in core sales.<\/p>\n
“This trend aligns with our broader economic outlook . We believe On net, I take this data as a solid indication for the loonie.<\/p>\n","protected":false},"excerpt":{"rendered":"I have been keeping an eye on RBC cardholder spending data for the past couple years and it’s…\n","protected":false},"author":2,"featured_media":28467,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-28466","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/28466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=28466"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/28466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/28467"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=28466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=28466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=28466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nCanada\u2019s economy will resume slow, but positive, GDP growth after a Q2
\ndecline with relatively resilient consumer spending offsetting
\npersistent headwinds in the industrial sector,” she wrote<\/a>.<\/p>\n