Canada Economics

Canada Economics Weekly

1 August, 2011

Spending slowdown more abrupt than desired

The soft patch in household spending may be more than just a blip, judging by the negative effect high energy prices and rising food prices are having on underlying retail sales. Although we anticipate a pick-up in retail spending during the second half of this year, this rebound will probably be lacklustre, providing even more reason for the Bank of Canada to postpone removing the current monetary stimulus.

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