“The decline in the Pocketbook Sub-indice suggests that fragility in the Canadian economy is starting to have an impact on Canadians personally,” said Nanos Research Group Chairman Nik Nanos.
Expectation for a stronger economy and for higher real estate prices increased in the latest weekly poll, but the figures show greater concern for low-income households. Stagnant wage growth is a worry along with higher levels of unemployment.
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Canadians were more concerned about their personal finances including mortgages following the budget than they were beforehand. The Bloomberg Nanos Canadian Confidence Index edged slightly higher in the week to March 24 but the sub-index on personal finances and job security was lower.