Canadian consumer confidence hit lowest in 3 years

by Steve Randall02 Oct 2018

The weekly barometer of confidence in the economy, real estate prices, and the labour market hit a new 2018 low last week.

The Bloomberg Nanos Canadian Consumer Confidence Index fell to 55.20, down from 55.65 a week earlier, and the lowest point since July 2015.

The poll, taken before the latest NAFTA developments, shows that the largest decline was in the expectations sub-index which tracks confidence in the economy and real estate prices over the next 6 months. The sub-index on job security and personal finances also declined.

“Only twelve per cent of Canadians thought the Canadian economy would be stronger in the next six months, a low that has not been seen since July 2015,” said Nanos Research, Chief Data Scientist, Nik Nanos.

The confidence of homeowners increased slightly though, while renters were less confident; 37.58% thought home prices would be higher in 6 months while 15.87% thought they would be lower. More than 4 in 10 say they will stay the same.

Confidence was lower overall across most age groups, income bands, and regions.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?