Confidence was lower across all age groups, most income brackets and both renters and homeowners. Ontario was the only province where confidence increased although it is still below the 12-month average.
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The decline in confidence among Canadian consumers continued last week according to the Bloomberg/Nanos Canadian Consumer Confidence Index. It fell to a new 2016 low of 52.31 from 53.01 a week earlier. Although the sub-index on personal finances (including mortgages) and job security slightly improved, the sub-index on expectations for the overall economy and for house prices was lower. Positive expectations for real estate prices fell to 29.38; the average over the period 2008-2016 is 36.02.