Canadian confidence edges higher but not by much

Canadians remain concerned about the economy, job security, and real estate prices.

The weekly Canadian Consumer Confidence Index from Bloomberg and Nanos Research shows a slight rise to 55.44 from 55.36 a week earlier; 4 weeks ago the index was at 54.96.

The latest increase pushed the index closer to the 2019 high of 55.51 from January 4 but it is still some way off the year-to-date average of 55.86.

The sub-indexes on personal finances and job security; and expectations for the economy and real estate prices; were both up slightly.

Positive responses for the four main areas of the survey’s focus were mainly lower with job security down almost 2 percentage points and real estate price expectations down 15 basis points. Positive responses for the economy were down almost 1.5 percentage points but personal finances saw an increase in optimism of more than three percentage points. 

Ontario and BC were the only regions where overall sentiment gained along with the youngest and oldest age groups, while those aged 40-59 were less confident.

Homeowners were more optimistic than a week ago while renters were less so.

Steve Randall

Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.

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