Personal finances knock consumer sentiment

Personal finances including mortgages are now a bigger concern for Canadians according to the latest data from Bloomberg and Nanos Research. The sub-index on personal finances and job security edged lower last week and Nanos Research’s chairman Nick Nanos commented that the drop in that metric is noteable: "The Pocketbook Sub-indices is not usually as variable as the forward views of Canadians. This drop needs to be monitored to see if a negative cascading effect is emerging where negative sentiment on the future is transitioning to negative sentiment personally."

Overall, the Canadian Confidence Index continued its downward trend, slipping to 52.13 (from 52.17 a week earlier). The expectations index moved higher based on respondents’ views on the economy and real estate prices over the next six months.

Sentiment fell in Ontario, the Prairies and BC; among those 39 or younger and the over 60’s; and across most income brackets. Renters were slightly less optimistic than homeowners.

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