Consumer sentiment on economy still soft

A survey of consumer confidence is still wavering on the low side with optimism about real estate prices, job security and personal finance, including mortgages, all lower.

Confidence in the economy as a whole has nudged slightly higher. The Bloomberg/Nanos weekly index was 53.23 for the week to Sept. 18, still below the 2015 average of 55.09 but above the year’s low of 52.04.

“Real estate is a key pillar of economic confidence for many Canadians but positive sentiment on this important measure has been trending lower in Canada,” said Nik Nanos, chairman of Nanos Research Group.

Asked if they expect home prices to be higher in six months, 31.49% of respondents said they would compared to 32.04% a week earlier; the average for this metric for 2015 is 34.11%. Renters were more confident overall than homeowners.

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