The Globe and Mail reports in its Wednesday, July 15, edition that a new report says Canadian consumer spending has grown across income groups, but only those in the top 20 per cent of earners saw their income growth fully match and support their higher spending. A Canadian Press dispatch to The Globe reports that the Boston Consulting Group report looked at household spending and income growth between 2021 and 2025. It says that outside of the top 20 per cent, households covered their increased spending by relying more on savings, rising portfolio values and borrowing. "For the middle 60 per cent of earners, the traditional bedrock of commercial demand, income growth covered just 57 cents of every dollar of new spending," the report said. "The lowest 20 per cent covered almost none of it." The report added spending on services drove most of the growth, including financial services tied to borrowing and asset-linked fees, while real spending on essentials was flat, and purchases of cars, furniture and appliances fell. It noted the middle 60 per cent are still spending, but their savings and balance sheets are moving more in the direction of the bottom 20 per cent than the top 20 per cent.