Spring boost for consumer confidence

After a tough winter, the downward trajectory of Canadian consumer confidence has finally been halted.

After 14 consecutive declines, the weekly Bloomberg Nanos survey registered 57.71 last week, in line with a week earlier and more than a point and a half higher than last month.

“Compared to four weeks ago, perceptions related to the future value of real estate, personal finances and the future strength of the economy are up,” said Nanos Research Group Chairman Nik Nanos. “Gains over the past four weeks have been primarily driven by provinces in Western Canada with the Prairie provinces showing a noticeable four week uptick in consumer confidence.”

The sub-index on personal finances including mortgages is up to 60.17 compared to 58.60 4 weeks ago; and the measure that includes real estate price confidence is at 55.25, up from 53.88 4 weeks ago.

The confidence of renters was slightly higher than homeowners in the telephone survey for week ending April 13, 2018.

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