1/4 Canadian household expenditures, in volume terms, grew more rapidly in October and November. The November pickup was in services (0.5%) and durable goods (0.8%). See: rpubs.com/PhilSmith26/99… #cdnecon
2/4 There were large drops in spending on food, alcoholic beverages and tobacco in this pre-Christmas month. Outlays for clothing and food were flat. Paid rents have been rising and were up a further 0.6% in November. There was a 1.0% volume increase for household appliances.
3/4 Purchases of vehicles rose 2.1% and fuels and lubricants increased 6.3% in volume terms. Transport services (air, rail, etc.) grew 3.0%. The volume of spending on recreation and culture remained fairly flat as did expenditure on food and accommodation services.
4/4 Overall, November recorded healthy growth in consumer spending, in line with rising employment, low unemployment and declining inflation. The possibility of the much-hoped-for "soft landing" seems quite real.
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