Fifth straight monthly gain reflects resilient economy despite tough economic environment
Lofty post-pandemic outlays can't last, given higher debt servicing costs
The downturn in spending showed up in the earnings reports of many high-profile retailers
Narrowing bond spreads signal confidence in borrowers, economy
Consumer spending “continued to sputter” as economic growth weakened
But higher interest rates are weighing on economic activities dependent on credit
Financial pressure likely to intensify as mortgages reprice in years ahead
Core inflation recedes alongside falling energy prices
Demographics are boosting growth, but the rate outlook remains unchanged
Economists expect spending to slow in the second half