For the first time this year, spending outpaced last year's levels, RBC reports
The report could "speak volumes about the medium-term rate outlook," says an economist
Hurdle remain for Canada's workforce, however, with high unemployment forecasted to linger
The federal wage subsidy has paid nearly $17.1 billion, while CERB has paid $53.53 billion
Economists expected a decline of 15%
Pandemic's effect on immigration represents a key economic threat
A record $49.2 billion flowed into the economy in April, driven by foreign investors adding Canadian debt
Data reflect the effects of a full month of mostly shuttered production
Industrial prices for May more positive than gloomier StatsCan data for March and April
Both international assets and liabilities plunged alongside equity markets