Canadian consumers continued spending through another challenging quarter -- RBC data

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Canadian consumers accelerated spending in the second quarter and it wasn't just because of higher gasoline prices. RBC says that based on its cardholder data, spending rose 2.4% in the quarter excluding sales at gas stations. Moreover, spending on discretionary goods rose 3.7% from Q1."Household and construction purchases saw its first quarterly gain since mid-2025, coinciding with early signs of renewed homebuyer interest. Spending on clothing and apparel also strengthened after a slow start to the year," RBC said.RBC economists say they're optimistic that spending will continue in H2 despite high energy costs.As for the World Cup, RBC said there was a significant increase in spending at food and drink vendors over the tournament period. That swelled spending in that category to 12.5% of total cardholder spending, the highest since the survey began in 2018.Canada next reports retail sales for June on August 21 while the US reports on retail sales this Friday. This article was written by Adam Button at investinglive.com.