Canadian consumer confidence hit lowest in 3 years

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.

Steve Randall

Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.

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