The weekly Canadian Confidence Index from Bloomberg and Nanos Research hit 62.17 for the week ending December 29, the highest level in 8 years.
“After being in the doldrums in terms of consumer sentiment, Canadians sentiment in the energy rich Prairie provinces has shown a noticeable rise,” said Nanos Research Group Chairman Nik Nanos. “The Prairie provinces hit a level not seen since 2014.”
The two sub-indexes on personal finances and job security, and the outlook for the economy and real estate prices, were both higher than the previous week.
More than 43% of respondents believe that real estate prices will be higher by the summer with a similar share expecting them to stay the same. Just 11% think prices will be lower in 6 months.
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Consumer confidence is at a near-record high as optimism in the Prairies surged last week.