Canadians are buying record amounts of goods. Services? Not so much [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Canadians are buying record amounts of goods. Services? Not so much Andrew Oliver, president and chief executive of Oliver & Bonacini Hospitality, poses for a portrait in a dining room of their Maison Selby restaurant in Toronto on Sept. 18, 2020. Christopher Katsarov/The Globe and Mail Andrew Oliver, president and chief executive of Oliver & Bonacini Hospitality, poses for a portrait in a dining room of their Maison Selby restaurant in Toronto on Sept. 18, 2020. Canadians are shaking up their spending patterns during the COVID-19 pandemic, resulting in a two-track recovery for consumption: Sales of goods are thriving, while services are slumping. During the second quarter, when the country was largely under lockdown, household spending declined 13.1 per cent in inflation-adjusted terms, according to Statistics Canada. The services sector dropped by twice as much (16.7 per cent) as the goods sector (8.4 per cent). More recently, however, goods are riding high. Retailers sold $53-bi
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