TD Card Spending Data Signal Uptick in Canada Consumption -- Market Talk

Dow Jones12-18

0914 ET - TD Bank says its tracking of bank-card spending shows a pickup in consumer outlays compared with 2024, powered by expenditures on entertainment and recreation. With 11 months of anonymized bank-card data, TD says spending through November rose 5.4% versus 4.9% in the comparable year-ago period. TD economist Maria Solovieva attributes the pickup in spending to lower interest rates, as Bank of Canada cut its policy rate four times this year to 2.25%. "Growth would likely have been stronger had consumer confidence not taken a hit from tariff tensions," Solovieva says. This represents another sign of resilience in the Canadian economy amid heightened trade-policy uncertainty. (Paul.Vieira@wsj.com, @paulvieira)

(END) Dow Jones Newswires

December 18, 2025 09:15 ET (14:15 GMT)

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