{"id":8323,"date":"2025-10-16T00:13:37","date_gmt":"2025-10-16T00:13:37","guid":{"rendered":""},"modified":"2026-03-31T19:33:38","modified_gmt":"2026-03-31T19:33:38","slug":"rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/","title":{"rendered":"RBC Canadian cardholder spending strong despite cooling from Q2 highs"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel section-tabs full-width is-tabs-style-section-tabs-in-page\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<p><em>By <em>Abbey Xu<\/em><\/em> <em>and<\/em> <em><em>Rachel Battaglia<\/em><\/em><\/p>\n\n\n\n<p><strong>September spending snapshot:<\/strong> RBC cardholder spending regained momentum in September after a softer August, showing resilience after a surprisingly strong Q2 when international trade uncertainty was high. RBC&#8217;s core retail sales\u2014which excludes volatile components such as autos and gas (like Statistics Canada&#8217;s core measure)\u2014grew 0.7% on a three-month rolling average basis in September, up from 0.2% in August.<\/p>\n\n\n\n<p>The slowdown in August prevented Q3 from matching Q2\u2019s robust performance. This deceleration is consistent with our <a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/economics\/economy-and-markets\/financial-markets-monthly\/central-banks-cut-as-trade-walls-rise\/\" target=\"_blank\" data-dig-id=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker-8323-a4ccb6b4\" data-dig-category=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker\" data-dig-action=\"link click\" data-dig-label=\"base case forecast\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">base case forecast<\/a> for household consumption to grow slower in the rest of 2025, but enough to enable modest gross domestic product expansion in Q3 despite weakness in the industrial sector.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-LyxtSFlVU\" class=\"everviz-LyxtSFlVU\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-q3-spending-holds-up-despite-broad-moderation\"><strong>Q3 spending holds up despite broad moderation<\/strong><\/h3>\n\n\n\n<p>Overall Q3 performance cooled with the slowdown led in part by continued price declines in gas spending as well as softer spending across several categories.<\/p>\n\n\n\n<p>Dining spending grew by a smaller 1.6% in Q3 compared to 7.3% in Q2. Grocery and clothing spending also eased, growing at roughly half the pace from Q2.<\/p>\n\n\n\n<p>Still, underlying positive momentum remained intact. A notable rebound in travel spending and sustained strength in arts and entertainment partially offset moderating growth in other categories.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div class=\"wp-block-rbc-tabs-block-v2 alignfull\">\n<ul class=\"wp-block-rbc-tab-nav-v2  tab-nav\" role=\"tablist\">\n<li role=\"presentation\" class=\"wp-block-rbc-tab-nav-single-v2\"><a href=\"#section-content-2841a497\" id=\"section-tab-2841a497\" role=\"tab\" data-toggle=\"tab\" data-bs-toggle=\"tab\" data-bs-target=\"#section-content-2841a497\" aria-controls=\"section-content-2841a497\" aria-selected=\"false\" data-dig-id=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker-8323-2841a497\" data-dig-category=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker\" data-dig-action=\"tab select\" data-dig-label=\"All Categories\" data-dig-anchor=\"\">All Categories<\/a><\/li>\n\n\n\n<li role=\"presentation\" class=\"wp-block-rbc-tab-nav-single-v2\"><a href=\"#section-content-373fd24f\" id=\"section-tab-373fd24f\" role=\"tab\" data-toggle=\"tab\" data-bs-toggle=\"tab\" data-bs-target=\"#section-content-373fd24f\" aria-controls=\"section-content-373fd24f\" aria-selected=\"false\" data-dig-id=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker-8323-373fd24f\" data-dig-category=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker\" data-dig-action=\"tab select\" data-dig-label=\"Dining, Groceries and Travel \" data-dig-anchor=\"\">Dining, Groceries and Travel <\/a><\/li>\n\n\n\n<li role=\"presentation\" class=\"wp-block-rbc-tab-nav-single-v2\"><a href=\"#section-content-a2970a6a\" id=\"section-tab-a2970a6a\" role=\"tab\" data-toggle=\"tab\" data-bs-toggle=\"tab\" data-bs-target=\"#section-content-a2970a6a\" aria-controls=\"section-content-a2970a6a\" aria-selected=\"false\" data-dig-id=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker-8323-a2970a6a\" data-dig-category=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker\" data-dig-action=\"tab select\" data-dig-label=\"Entertainment, household and clothing\" data-dig-anchor=\"\">Entertainment, household and clothing<\/a><\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-rbc-tab-content-v2 tab-content\">\n<div role=\"tabpanel\" tabindex=\"0\" class=\"tab-pane\" aria-labelledby=\"section-tab-2841a497\" id=\"section-content-2841a497\">\n<div id=\"everviz-cwcjplz3Q\" class=\"everviz-cwcjplz3Q\" data-view=\"graph\"><\/div>\n<\/div>\n\n\n\n<div role=\"tabpanel\" tabindex=\"0\" class=\"tab-pane\" aria-labelledby=\"section-tab-373fd24f\" id=\"section-content-373fd24f\">\n<div id=\"everviz-co3hsdXP5\" class=\"everviz-co3hsdXP5\" data-view=\"graph\"><\/div>\n<\/div>\n\n\n\n<div role=\"tabpanel\" tabindex=\"0\" class=\"tab-pane show active\" aria-labelledby=\"section-tab-a2970a6a\" id=\"section-content-a2970a6a\">\n<div id=\"everviz-tAGs1jN_r\" class=\"everviz-tAGs1jN_r\" data-view=\"graph\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-per-capita-spending-shows-moderation-with-aggregate-trend\"><strong>Per capita spending shows moderation with aggregate trend<\/strong><\/h3>\n\n\n\n<p>Per capita analysis revealed a similar deceleration pattern, suggesting population growth isn\u2019t driving the moderation in RBC cardholder spending.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/economics\/featured-insights\/canadas-population-growth-slows-even-as-outflows-fall-increasingly-short-of-targets\/\" target=\"_blank\" data-dig-id=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker-8323-a4ccb6b4\" data-dig-category=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker\" data-dig-action=\"link click\" data-dig-label=\"Canada's population growth slowed nearly to zero\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Canada&#8217;s population growth slowed nearly to zero<\/a> on a seasonally adjusted, annualized basis in Q3. This marks a significant shift from a year ago when population growth was a robust annualized 2.25%. At that time, rapid population growth was masking underlying weakness in the consumer by keeping aggregate spending on the rise.<\/p>\n\n\n\n<p>With that demographic tailwind now largely disappearing, individual spending trends will have greater influence on Canadian GDP. Per capita spending slowed to 1.5% in Q3 from 2.5% in Q2, mirroring the aggregate decline from 2.4% to 1.3%.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-_y49du6b1\" class=\"everviz-_y49du6b1\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-spotlight-on-spending-discretionary-and-essential-purchases-still-rising\"><strong>Spotlight on spending: Discretionary and essential purchases still rising<\/strong><\/h3>\n\n\n\n<p>Strength in September&#8217;s cardholder spending was broad across discretionary services, goods, and essentials, highlighting resilient consumer demand.<\/p>\n\n\n\n<p>Discretionary services maintained the lead on a three-month rolling average despite less spending in dining.<\/p>\n\n\n\n<p>Similar to the aggregate trend, all three major spending categories saw slower growth in Q3.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-Dr8K-PK1S\" class=\"everviz-Dr8K-PK1S\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-sentiment-stabilizing-but-still-fragile\"><strong>Sentiment stabilizing but still fragile<\/strong><\/h3>\n\n\n\n<p>There was a gradual recovery in consumer confidence in September, but a divergence in actual household spending and sentiment persists.<\/p>\n\n\n\n<p>The Conference Board of Canada\u2019s Index of Consumer Confidence rose 4.8% in September from the end of Q2, reflecting recovering confidence despite ongoing economic uncertainties. The latest gain wasn\u2019t enough to fully reverse August\u2019s dip, but sentiment remains on firmer footing compared to earlier in the year.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-k_pr4jcBY\" class=\"everviz-k_pr4jcBY\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-regional-trends-ontario-outperforms-as-momentum-fades-elsewhere\">Regional trends: Ontario outperforms as momentum fades elsewhere<\/h3>\n\n\n\n<p>Quarterly spending growth decelerated across most provinces in Q3 with Ontario the notable exception.<\/p>\n\n\n\n<p>Cardholder spending in Canada&#8217;s largest province accelerated to 2.4% from 1.9% in Q2\u2014well above the national average. The strong performance contrasted with neighboring Quebec where RBC cardholder spending grew just 0.6%\u2014less than half the national pace. Ontario\u2019s gain was relatively broad across categories with the exception of spending at gas stations that continued to contract.<\/p>\n\n\n\n<p>Prince Edward Island (4.4%) and Nova Scotia (3.4%) also notched above the national&nbsp;average, but saw momentum slow from Q2. Strength was fuelled by a rebound in travel spending and outsized growth in entertainment and art. Both provinces hosted music festivals that drew in many visitors.<\/p>\n\n\n\n<p>Saskatchewan was alone with a quarterly decline with spending falling 0.6% with drops in entertainment, arts, and travel after an overall strong Q2.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-Exb6Vas6w\" class=\"everviz-Exb6Vas6w\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-wyxKMR1nV\" class=\"everviz-wyxKMR1nV\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-kHvlwSRwm\" class=\"everviz-kHvlwSRwm\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p class=\"has-text-align-center\"><strong>About the Authors<\/strong><\/p>\n\n\n\n<p><em><strong>Abbey Xu<\/strong>&nbsp;is an economist at RBC. She is a member of the macroeconomic analysis group, focusing on macroeconomic forecasting models and providing timely analysis and updates on economic trends.<\/em><\/p>\n\n\n\n<p><em><strong>Rachel Battaglia<\/strong>&nbsp;is an economist at RBC, providing analysis and forecasts for consumer spending trends and provincial economies.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse441563b8\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse441563b8\" data-dig-id=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker-8323-441563b8\" data-dig-category=\"LP-CanadianAnalysis-RBCConsumerSpendingTracker\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Methodology\"><div>Methodology<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse441563b8\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p><em>By Carrie Freestone<\/em><\/p>\n\n\n\n<p>RBC\u2019s consumer spending tracking report uses RBC Data &amp; Analytics\u2019 proprietary database of anonymized card transactions by Canadian clients. The data are an accounting of merchant transactions that are divided into various spending categories covering tens of millions of weekly card transactions worth billions of dollars each week. Transactions, both in person and online, are classified into 11 broad spending groups: Dining, Education, Finances, Groceries, Health, Household, Shopping, Transport, Travel, Utilities, and Other. Within each group, the data are further classified: for example, shopping covers merchants classified as clothing stores, hobby shops, electronics stores, and jewelers, among others. We exclude purely financial transactions such as cash advances and insurance from spending.<\/p>\n\n\n\n<p>We examined changes in the value of all transactions in these areas using a 7 day rolling sample starting January 1st of each year that is indexed to pre-covid levels which are calculated as the average spending for the month of February 2020. To examine the impact of seasonal factors, we also show each\u2019s year spending profile which depicts monthly trends in spending. Online spending volumes are estimated based on the presence of an RBC card at the time of the authorization.<\/p>\n\n\n\n<p>Protecting your privacy and safeguarding your personal information is a cornerstone of our organizational ethics and values and will always be one of our highest priorities. The underlying data for this analysis was aggregated based on transaction date, region and merchant category, and cannot be used to identify any individual client or merchant. For additional information please visit&nbsp;<a href=\"https:\/\/www.rbc.com\/privacysecurity\/ca\/index.html\">www.rbc.com\/privacy<\/a>.<\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":318,"featured_media":3183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[83,106],"tags":[115,107],"rbc_econ_content_type":[],"class_list":["post-8323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-analysis","category-rbc-consumer-spending-tracker","tag-canada","tag-consumer-spending"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RBC Canadian cardholder spending strong despite cooling from Q2 highs - RBC Economics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBC Canadian cardholder spending strong despite cooling from Q2 highs\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Economics\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-16T00:13:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-31T19:33:38+00:00\" \/>\n<meta name=\"author\" content=\"viktoriyapanahova\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"viktoriyapanahova\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/\"},\"author\":{\"name\":\"viktoriyapanahova\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"headline\":\"RBC Canadian cardholder spending strong despite cooling from Q2 highs\",\"datePublished\":\"2025-10-16T00:13:37+00:00\",\"dateModified\":\"2026-03-31T19:33:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/\"},\"wordCount\":919,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80\",\"keywords\":[\"Canada\",\"Consumer spending\"],\"articleSection\":[\"Canadian Analysis\",\"RBC Consumer Spending Tracker\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/\",\"name\":\"RBC Canadian cardholder spending strong despite cooling from Q2 highs - RBC Economics\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80\",\"datePublished\":\"2025-10-16T00:13:37+00:00\",\"dateModified\":\"2026-03-31T19:33:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80\",\"contentUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80\",\"width\":6134,\"height\":3700},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rbc.com\/en\/economics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RBC Canadian cardholder spending strong despite cooling from Q2 highs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/\",\"name\":\"RBC Economics\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\",\"name\":\"viktoriyapanahova\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"caption\":\"viktoriyapanahova\"},\"url\":\"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"RBC Canadian cardholder spending strong despite cooling from Q2 highs - RBC Economics","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/","og_locale":"en_US","og_type":"article","og_title":"RBC Canadian cardholder spending strong despite cooling from Q2 highs","og_url":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/","og_site_name":"RBC Economics","article_published_time":"2025-10-16T00:13:37+00:00","article_modified_time":"2026-03-31T19:33:38+00:00","author":"viktoriyapanahova","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80","twitter_misc":{"Written by":"viktoriyapanahova","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#article","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/"},"author":{"name":"viktoriyapanahova","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"headline":"RBC Canadian cardholder spending strong despite cooling from Q2 highs","datePublished":"2025-10-16T00:13:37+00:00","dateModified":"2026-03-31T19:33:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/"},"wordCount":919,"commentCount":0,"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80","keywords":["Canada","Consumer spending"],"articleSection":["Canadian Analysis","RBC Consumer Spending Tracker"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/","url":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/","name":"RBC Canadian cardholder spending strong despite cooling from Q2 highs - RBC Economics","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage"},"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80","datePublished":"2025-10-16T00:13:37+00:00","dateModified":"2026-03-31T19:33:38+00:00","author":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"breadcrumb":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#primaryimage","url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80","contentUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80","width":6134,"height":3700},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/rbc-canadian-cardholder-spending-strong-despite-cooling-from-q2-highs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rbc.com\/en\/economics\/"},{"@type":"ListItem","position":2,"name":"RBC Canadian cardholder spending strong despite cooling from Q2 highs"}]},{"@type":"WebSite","@id":"https:\/\/www.rbc.com\/en\/economics\/#website","url":"https:\/\/www.rbc.com\/en\/economics\/","name":"RBC Economics","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea","name":"viktoriyapanahova","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","caption":"viktoriyapanahova"},"url":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"}]}},"author_meta":{"display_name":"viktoriyapanahova","author_link":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"},"featured_img":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80&w=300","jetpack_featured_media_url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/07\/Cons-sp.png?quality=80","coauthors":[],"tax_additional":{"categories":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/\" class=\"advgb-post-tax-term\">Canadian Analysis<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/rbc-consumer-spending-tracker\/\" class=\"advgb-post-tax-term\">RBC Consumer Spending Tracker<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Canadian Analysis<\/span>","<span class=\"advgb-post-tax-term\">RBC Consumer Spending Tracker<\/span>"]},"tags":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/rbc-consumer-spending-tracker\/\" class=\"advgb-post-tax-term\">Canada<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/rbc-consumer-spending-tracker\/\" class=\"advgb-post-tax-term\">Consumer spending<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Canada<\/span>","<span class=\"advgb-post-tax-term\">Consumer spending<\/span>"]}},"comment_count":0,"relative_dates":{"created":"Posted 6 months ago","modified":"Updated 3 weeks ago"},"absolute_dates":{"created":"Posted on October 16, 2025","modified":"Updated on March 31, 2026"},"absolute_dates_time":{"created":"Posted on October 16, 2025 12:13 am","modified":"Updated on March 31, 2026 7:33 pm"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/8323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/users\/318"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/comments?post=8323"}],"version-history":[{"count":7,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/8323\/revisions"}],"predecessor-version":[{"id":8813,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/8323\/revisions\/8813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media\/3183"}],"wp:attachment":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media?parent=8323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/categories?post=8323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/tags?post=8323"},{"taxonomy":"rbc_econ_content_type","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/rbc_econ_content_type?post=8323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}