American consumer spending cooled in the latest quarter, with retail sales falling 0.3% month‑over‑month as inflationary pressures keep prices high. The slowdown is attributed to persistent price hikes in food, energy, and housing, which have eroded real purchasing power. Analysts warn that unless inflation eases, discretionary spending may remain subdued, potentially dampening GDP growth. In Canada, the economy rebounded sharply in Q2, with GDP expanding 1.8% year‑on‑year, driven by strong housing and construction activity. However, the recovery is tempered by the looming threat of U.S. tariffs, which could restrict Canadian exports to its largest trading partner. Policymakers are monitoring trade relations closely as they assess potential impacts on industrial output and employment. French households surprised markets with a 4% rise in discretionary spending, lifting consumer‑confidence indices.