Consumer spending slowed amid tight financial conditions. This is proof inflation and higher interest rates are taking hold on the Canadian consumer. The Fed is signalling interest rate reductions at its last meeting of 2023, with signs of the economy and inflation slowing; however, it might be too early to consider reducing interest rates with inflation still above target.
Data from the U.S. Bureau of Labor Statistics showed the U.S. labour market largely strengthened in November. However, other data pointed to the labour market strength softening. Meanwhile, for the first time in seven months, exports from China increased, rising by 0.5% on a year-over-year basis. |
