It could be the results of a brutally chilly winter to date however Canadian shopper spending dipped in January, in line with the most recent spending tracker from RBC.
Utilizing cardholder knowledge, Canada’s largest financial institution indicated that spending fell throughout discretionary items, companies and necessities within the month.
The financial institution downplayed the decline, noting that it got here after a very sturdy December.
December had been an particularly sturdy for items tied to vacation
purchasing, and January largely retraced a few of these earlier good points. The
reversal factors to a normalization following elevated year-end spending
somewhat than a sudden deterioration in family demand.
Necessities spending additionally declined in January, extending softer tone
already evident from late 2025. Against this, discretionary companies
spending edged decrease, however remained probably the most resilient of the three main
groupings
The financial institution additionally cited extreme winter climate noting that spending fell in Ontario on peak storm days. One other smooth space was housing-related spending in gentle of the persistent slide in housing costs in a lot of the nation.
RBC demonstrated the storm associated dips:
