The index fell from mid-2021 to mid-2022 as surging prices ate into household budgets
Economists have been downgrading their probabilities of a U.S. recession
Economists expect spending to slow in the second half
Since the pandemic hit, U.S. employers have added jobs at a blistering pace
Homebuilding still expected to be a drag on residential investment in coming quarters
StatsCan reported sales were up in four of the seven subsectors that it tracks
A growing population has boosted spending and the housing market but could help tame wage inflation, reports say
Wage gains may cut into profit margins, hitting stocks in the second half of the year
The Bank of Canada has identified household debt as a key risk
The increase came as the economy added 60,000 jobs in June, driven by gains in full-time work