Further decline in confidence revealed

A weekly barometer of Canadians’ confidence in the economy and their personal finances has continued its 6-week downward trend.

Bloomberg Nanos Canadian Consumer Confidence Index was down to 58.59 last week from a 2018 high of 61.91 at the start of the year. Canadians were less confident about real estate prices and the economy.

There was an increase in sentiment regarding personal finances including mortgages though.

"While household balance sheets remain better off than last year, consumers are factoring in expectations of slowing growth for the economy and real estate holdings, and slightly more risk to their employment situation. It’s likely that any additional financial stress will have a knock-on effect on household consumption”, said Bloomberg economist Robert Lawrie.

Atlantic Canada was the only region to see a rise in overall confidence.

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