CBC: Everything inflation: It’s not just gas and food anymore — and wages aren’t keeping up
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The Canadian Press: Consumer spending to soften in second half of 2023: Canadian Chamber of Commerce
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.
The Toronto Star: Toronto restaurants see double-digit decline in people dining in, suggesting pullback in discretionary spending
The volume of seated diners at restaurants in the city has been declining year-over-year since June, according to OpenTable data.
Financial Post: Posthaste: These Canadian regions are headed for ‘city-cessions’ — a sign Canada may not be far behind
While Canada’s economy has yet to dip into recession, new data from the Business Data Lab suggests that many of the country’s major cities are already heading into downturns known as “city-cessions.”