Consumer confidence continues rebound

The Canadian Consumer Confidence Index has halted its multi-week decline and posted a second week of growth.

Bloomberg and Nanos Research’s weekly telephone poll shows that consumers have become more confident overall, as positive responses gain for the economy, job security, and real estate price expectation.

But the element that tracks positive sentiment about personal finances including mortgages declined slightly.

“The biggest gain in consumer confidence in Canada was driven by perceptions related to job security which realized an eight point gain in the last four weeks,” said Nanos Research, Chief Data Scientist, Nik Nanos. “Concerns about job security rose in the wake of the US President Donald Trump comment right after the G7 ‘Canada will pay’ for the comments of Canadian PM Trudeau.”

The overall index was up to 55.40 compared with 54.46 four weeks ago. The twelve month high stands at 62.17.

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