Canada: Stable card trends support cautious optimism – RBC
The post Canada: Stable card trends support cautious optimism – RBC appeared on BitcoinEthereumNews.com. Royal Bank of Canada (RBC) analysts Abbey Xu and Rachel Battaglia report that June spending by RBC Canadian cardholders remained relatively stable, with core retail sales up modestly. Discretionary goods led gains, while essential spending including gasoline also contributed. Excluding gasoline, essential spending improved, and households appear cautiously optimistic into summer despite higher energy prices and selectivity on larger discretionary purchases. Card data show steady retail momentum “Growth in RBC Canadian cardholder spending held relatively stable in June as consumers continued to balance higher costs for essentials while selectively spending on seasonal experiences such as sporting events.” “Our estimate of core retail sales from cardholder transactions (excluding purchases of gasoline and autos) edged up 0.5% in June on a three-month average, similar to May, suggestin