With the temperature on the rise and more provinces moving to the next stage of re-opening the economy, various sectors that were affected deeply by the pandemic are seeing a slow but steady rise in spending in recent weeks, but remain below last year’s levels, the latest Scotiabank Economics' analysis of customer retail transaction data shows. Spending on restaurants and entertainment sectors including hobbies, golf courses and others are on the rise. However, travel spending continues to run significantly below 2019’s spending levels, and a significant recovery is unlikely until travel restrictions will be lifted.
Read the latest Scotiabank Economics report here.
