Consumers are tapped out

“Canadian shoppers finally seem to be feeling the pressure of higher interest rates, according to the latest retail spending data from Statistics Canada.

Retail sales, which indicate how much consumers are spending on goods, rose by a modest 0.1 % month-over-month in June, just slightly better than economists’ expectation of no increase. In volume terms, retail sales actually declined 0.2 %”

#Canada

#Ontario

#InfiniteBankingConcept

https://www.theglobeandmail.com/business/article-canada-retail-sales-june-2023/#:~:text=Business-,Canadian%20retail%20sales%2C%20up%20modest%200.1%25%20in%20June%2C,signal%20sluggishness%20in%20consumer%20spending&text=Canadian%20shoppers%20finally%20seem%20to,spending%20data%20from%20Statistics%20Canada.