Toy orders, parka sales illustrate why Canada’s economy is stalling

Toy orders, parka sales illustrate why Canada’s economy is stalling – BNN Bloomberg ...Middle East

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Canadian companies are painting a stark picture of a consumer who’s pulling back on spending, as rising debt payments and inflation force households to change their behaviour. From big-box retailers to toy marketers to coat manufacturers, recent corporate earnings results and executives’ comments underscore how quickly the economic temperature is changing after two years of robust growth. Canadians have the highest household debt levels among G7 countries, and they feel the pinch of higher rates sooner than U.S. consumers because their mortgage terms tend to be shorter. More than a third of mortgage borrowers have seen their payments increase since February 2022, according to central bank

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Last updated : 13 Nov 2023 clock 09:16 PM

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Toy orders, parka sales illustrate why Canada’s economy is stalling – BNN Bloomberg ...Middle East

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