Canadian pullback in discretionary services spending becoming more evident -- RBC ...Middle East

RBC is out with its latest consumer spending tracker.Canada's largest bank uses its card-spending data to track spending patterns and in October noticed a shift away from vacations and eating-out and towards gasoline and clothing purchases.Spending on physical merchandise continues to show signs of slowing. Our tracking of retail sales excluding motor vehicles (and controlling for price changes) is down an annualized ~1.0% in Q3. October sales were slightly stronger as Canadians bought more gas and clothes. But most other spending categories were either weakly positive or outright declined.The report said discretionary service spending fell by the most in six months, with restaurants an

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