RBC's latest spending tracker found that while overall spending was steady in March, there were some signs of weakness in goods spending, mirroring a pullback in auto sales.
When adjusted for inflation, restaurant spending fell by 0.6 per cent on average in the first quarter of 2023, a relatively small decline, said RBC economist Carrie Freestone. Freestone said RBC expects to see a more pronounced pullback in discretionary spending once the impact of the Bank of Canada's interest rate hikes is fully felt.
This is exactly true for me. I even told the kids that if they wanted to go to Hawaii (somehow it’s their obsession..?), then we need to stop wasting my money going to restaurants & buying useless toys & things altogether
One survey that is probably 💯 accurate!