Canada Consumer Spending Holds Up in Q3, With the World Cup Providing Only Modest Boost, TD Says

12:31 PM EDT, 09/14/2026 (MT Newswires) -- Canadian consumer spending remained solid in the third quarter, with real consumption rising at an estimated 2.6% annualized pace despite easing from the second quarter, according to a TD Economics Monday note citing proprietary data. TD Spend data show credit and debit card spending rose 0.7% annually, down from 2.3% in the second quarter, as goods spending flattened and services growth moderated, said the bank. Gasoline spending continues to boost headline card spending, though underlying spending remains firm, added TD. Travel is gaining momentum, led by hotels and airfares, while stronger housing activity is supporting home-related purchases. The FIFA World Cup provided only a modest boost, adding an estimated 0.1 percentage point to annual card spending growth, calculated the bank. The impact was concentrated in recreation and entertainment in Ontario and British Columbia, particularly on soccer match days, with limited spillovers into other categories. Overall, Canadian consumer spending is moderating but remains resilient, with weakness in goods and services partly offset by stronger travel and housing-related spending, said TD