Consumer confidence remains near 12-month low

Consumer confidence remains subdued nationwide according to the Bloomberg / Nanos Research Canadian Consumer Confidence Index.

The index posted a reading of 54.53 this week, up slightly from a week earlier but down from the 54.72 reading of 4 weeks ago and well below the 12-month high of 60.04.

Confidence remains near the 12-month low with the sub-index tracking confidence in personal finances and job security down from 4 weeks ago while the sub-index reflecting sentiment in the economy and real estate prices over the next 6 months moved higher.

Overall, consumers in Ontario, BC, and Atlantic Canada showed improved optimism from a week ago but one province remains pessimistic.

 “Canada’s Prairie provinces continue to register lower levels of consumer confidence compared to other regions in Canada,” said Chief Data Scientist Nik Nanos.

Homeowners continue to show slightly more confidence than renters along with older Millennials and Boomers.

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