Chamber chief economist Stephen Tapp said population growth has been supporting strong spending
OTTAWA — While consumer spending remained strong in the second quarter, it turned a corner after the Bank of Canada ended its pause on interest rate hikes, the Canadian Chamber of Commerce said.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYExclusive sports coverage by Bruce Garrioch, Ken Warren and Tim Baines, in-depth crime and news from Gary Dimmock and city life coverage from arts writers Lynn Saxberg and Peter Hum. Plus, daily newsletters and events.
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Consumer spending to soften in second half of 2023: Canadian Chamber of Commerce - BNN BloombergWhile consumer spending remained strong in the second quarter, it turned a corner after the Bank of Canada ended its pause on interest rate hikes, the Canadian Chamber of Commerce said.
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Consumer spending to soften in second half of 2023, says Canadian Chamber of CommerceConsumer spending to soften in second half of 2023
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Consumer spending to soften in second half of 2023: Canadian Chamber of CommerceChamber chief economist Stephen Tapp said population growth has been supporting strong spending
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Consumer spending to soften in second half of 2023, says Canadian Chamber of CommercePopulation growth has supported strong spending and economic advancement, despite Canadians cutting back on discretionary purchases
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Consumer spending to soften in second half of 2023: Canadian Chamber of CommerceWhile consumer spending remained strong in the second quarter, it turned a corner after the Bank of Canada ended its pause on interest rate hikes, the Canadian Chamber of Commerce said.
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Consumer spending to soften in second half of 2023 as higher rates bite: expertsConsumer spending is expected to cool in the third quarter as interest rate hikes continue to work their way through the economy, experts said. 'We do expect that consumers will be under increasing strain, particularly those folks that are borrowing,' said Stephen Tapp, chief economist at the Canadian Chamber of Commerce. 'They have to service their debt, they're going to have to cut back on something, and they'll be cutting back on discretionary spending.' Consumer spending will likely slow not
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