No gains for Canadian confidence as economic fears pervade

Canadians are still not feeling as optimistic as they were at the start of the year despite last week’s budget and its measures for the housing market.

The weekly Canadian Consumer Confidence Index from Bloomberg/Nanos Research shows a small move higher to 55.36 from 55.24 a week earlier and beating the 2019 average of 54.81.

But the small increases reflect slightly lower positivity for job security and a flatline for improving personal finances, real estate prices, and the economy.

Although more people think their job is secure than not, more say they are worse off than better off, with more than half saying their personal finances have not changed.

Young Canadians (18-29) have shown the largest increase in confidence week-over-week while those in their 40s and over 60 saw a lower level of sentiment.

The share of homeowners who are confident declined slightly while renters were more optimistic.

And regionally, the Prairies was the only region to show declined confidence overall although Ontario was unchanged.

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