{"id":438138,"date":"2026-09-16T02:00:16","date_gmt":"2026-09-15T19:00:16","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/canadians-continued-to-spend-through-august-rbc-spending-tracker-shows-438138\/"},"modified":"2026-09-16T02:00:16","modified_gmt":"2026-09-15T19:00:16","slug":"canadians-continued-to-spend-through-august-rbc-spending-tracker-shows","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/canadians-continued-to-spend-through-august-rbc-spending-tracker-shows-438138\/","title":{"rendered":"Canadians continued to spend through August &#8211; RBC spending tracker shows"},"content":{"rendered":"<div>\n<p>RBC is just out with its latest Canadian consumer spending tracker, based on its card data. I&#8217;ve found this report to be a good leading indicator for the retail sales report. The next edition is due on September 24.<\/p>\n<p>RBC said\u00a0spending remained on a positive trajectory with growth broadening across major spending categories. Core sales rose 1.1% m\/m, 0.6% m\/m on a three-month average and 6.6% y\/y (nominally).<\/p>\n<p>&#8220;Discretionary services continued to lead spending growth, supported by solid gains in travel, entertainment and arts,&#8221; RBC said. &#8220;Discretionary goods spending also improved, while essentials spending remained firm, although gasoline continued to account for an outsized share of the increase.&#8221;<\/p>\n<p>This chart makes a compelling case that travel, entertainment and art are major drivers of spending. I suspect that mirrors the high wealth concentration among Boomers, who are seeing waves of retirements.<\/p>\n<\/p>\n<p>A contrast to this report is the latest\u00a0NielsenIQ Omnishopper update via Scotiabank. It highlights a clear deceleration in spending in Canada and the US. They peg Canadian consumer goods spending up 4.5% y\/y, a big contrast with the +6.6% discretionary goods number from RBC. A possible reconciliation is that RBC cards skew more wealthy, though I&#8217;d assume the reports try to adjust for that.<\/p>\n<p>NielsenIQ Omnishopper data:<\/p>\n<\/p>\n<p>Looking further ahead, Scotia forecasts real consumer spending growth up 2.3% this year but falling to 1.8% in 2027.<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>RBC is just out with its latest Canadian consumer spending tracker, based on its card data. I&#8217;ve found this report to be a good leading indicator for the retail sales report. The&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-438138","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=438138"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438138\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=438138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=438138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=438138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}