FINWIRES · TerminalLIVE
FINWIRES

FIFA World Cup Lifts Food and Beverage Spending in Canada, but Little Net Boost to Consumption, RBC Says

By

FIFA's World Cup drove a notable increase in food and beverage spending in Canada, with the category reaching a record 12.5% of RBC cardholder spending in June, according to the bank in a note.

The increase was broad-based across age groups and regions, extending beyond Canadian host cities and likely reflecting watch parties and other gatherings, said the bank in Wednesday's note.

However, the boost appears to have largely shifted spending within discretionary services rather than increased overall consumption, wrote RBC economists Rachel Battaglia and Abbey Xu in the note.

Discretionary services spending rose just 0.4% monthly, while spending outside dining and entertainment was broadly unchanged. Travel spending fell 0.2%, while movie and video-game streaming dropped 7.3%, they added.

International visitors likely provided an additional boost in Toronto and Vancouver, with arrivals at the cities' airports up nearly 10% during the tournament, said RBC.

However, total international arrivals to Canada were only 2.6% higher annually in June, while travel services exports were broadly flat.

Related Articles

International

New Zealand Annual Inflation Growth Expectations Fall, RBNZ Survey Shows

The Reserve Bank of New Zealand (RBNZ) said the respondents for its September quarter survey of expectations expect the country's annual consumer price index (CPI) growth to be 2.6% one-year-out and 2.34% two-years-out, data showed Thursday.The survey measures the expectations of forecasters, economists, and business leaders about the future of the New Zealand economy.The respondents had expected one-year-out CPI growth to be 3.41% and two-years-out growth to be 2.53% in the June quarter.The perception of monetary conditions was negative 63.16% at the end of the September quarter and flat in the December quarter. The measure was up nearly 16% one year out.

^NZ50
International

RICS: UK House Price Balance Edges Up in July

The UK Royal Institution of Chartered Surveyors house price balance stood at -30% in July, up from the revised -32% in the previous month, according to residential market survey data released Thursday.The reading signaled more price declines than increases in the housing sector.House price expectations for the next three months stayed weak, with the balance at -31%, while the 12-month outlook was optimistic at 4%.

FTSE 100
International

New Zealand Housing Market Prices Remain Flat in July, REINZ Says

New Zealand housing market prices remained steady in July, but the pace of activity has slowed due to cautious buyers, according to a report from the Real Estate Institute of New Zealand (REINZ) released on Thursday.The national median sale price of NZ$760,000 recorded a 0.7% year-on-year decline, while sales saw a 10% decrease compared with July 2025.Properties took longer to sell, with the national median Days to Sell at 50 days, an increase of two days year-on-year and the fifth-slowest July on record since REINZ records started in 1992.People are purchasing and selling property daily, but buyers are taking time considering their options, and sellers are sometimes allowing more time for the right buyer to come along, REINZ Chief Executive Lizzy Ryley said.Inventory increased, primarily due to properties taking longer to sell rather than an influx of new listings.

^NZ50